EUR/JPY Forecast November 30, 2016, Technical Analysis

The EUR/JPY pair rallied at the beginning of the session on Tuesday and slammed into the 120 handle. This is an area that of course is resistive, and if we can break above the top of that level market should continue to go much higher. I believe that it’s only a matter of time before buyers return on short-term pullbacks. I think that there is more than enough support below to continue to push this market higher. Ultimately, this is a market that should continue to see bullish momentum, but I would like to see a little bit more in the way of momentum building before you get involved.