EUR/JPY Forecast November 28, 2016, Technical Analysis

The EUR/JPY pair initially rallied on Friday, but turned around as the 120 level offered quite a bit of resistance. By forming a shooting star, I think we are getting a pullback soon. This is a great sign for this market though, because quite frankly there is quite a bit of buying pressure underneath just waiting to happen. This would be continuation of the longer-term move that has just started, as the trend looks as if it is going to change completely. A break above the top of the shooting star is reason enough to go along.