EUR/JPY Forecast October 31, 2016, Technical Analysis

The EUR/JPY pair broke higher during the course of the session on Friday, as we continue to see quite a bit of bullish pressure. Ultimately, looks as if we’re going to try to reach towards the 160 level where I expect to see quite a bit of resistance. On top of that, the market is a bit overextended, so having said that it’s very likely that the sellers will return, or at least the exhaustion will return to keep this market within the consolidation area that we’ve seen recently. Alternately though, if we break above the 116.50 level I would suspect that the market would go much higher. - 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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