EUR/JPY Forecast December 14, 2016, Technical Analysis

The EUR/JPY pair rallied slightly during the day on Tuesday, as we continue to see bullish pressure. Pullbacks at this point should be buying opportunities given enough time, as supportive candles will attract buyers again and again. I believe that the 120 level below is massively supportive, and I believe is essentially the “floor” in the market. I think that given enough time, we will continue to reach towards the 125 handle, which is my longer-term target at this point. We are bit overextended, so pullbacks should be looked at as potential value.