EUR/JPY Forecast November 8, 2016, Technical Analysis

The EUR/JPY pair fell slightly during the day on Monday, as the 116 level offered too much resistance. This is the top of the recent consolidation area, so having said that it’s not much of a surprise. Think of pullback is expected, and a break down below the bottom of the candle could send this market looking for the 114.50 level below. In fact, we could go much lower than that, as it would be a simple continuation of the consolidation that we had been in. On the other hand, we can break above the 160 level which would be a strong buy signal. - 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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