EUR/JPY Forecast November 3, 2016, Technical Analysis

The EUR/JPY pair initially fell on Wednesday, but turned around to form a bit of a hammer. There is a lot of noise above though, so having said that I’m not ready to start buying quite yet. It’s not until we break above the 160 level that I feel comfortable going long. Alternately, if we can break down below the bottom of the hammer from the session on Wednesday, I feel that the market will probably try to break down to the 113 level at that point in time. Regardless, expect a lot of volatility. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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