EUR/JPY Forecast November 25, 2016, Technical Analysis

The EUR/JPY pair broke higher during the day on Thursday, reaching towards the 120 handle. We have most certainly broken out at this point, and it now looks as if pullbacks will continue to be buying opportunities as this market will continue to trend fairly strongly towards the upside. I believe that longer-term, the pair could go much higher, not necessarily because of the Euro, but because of the Japanese yen itself. I have no interest in selling, but also recognize that it could be a bit volatile on the way too much higher levels. If we break above the 120 handle, I believe we will then reach towards the 122 handle.

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