EUR/JPY Forecast December 15, 2016, Technical Analysis

The EUR/JPY pair fell initially during the day on Wednesday, but turned around to form a slightly positive candle. Because of this, the market looks as if it is try to break down but I think it can take a while to do so. Pullback should continue to offer value, because the EUR itself isn’t exactly the strongest currency, but more importantly the Japanese yen is horrifically soft. I think we eventually reach towards the 125 handle, and that the 120 level below is the “floor” in this market. With this, I have no interest in selling.