EUR/JPY Forecast November 9, 2016, Technical Analysis

The EUR/JPY pair rallied during the day on Tuesday, slamming into the 116 level yet again. This is an area that’s massively resistive, so if we broke above their ethic that would be a very bullish sign. I think at that point the market should then reach towards the 117 level next, and perhaps even 118 after land. Pullbacks at this point should be nice buying opportunities as we continue to build up pressure to the upside and at this point I think we will continue to see buyers again and again to push through the resistance.