EUR/JPY Forecast December 2, 2016, Technical Analysis

The EUR/JPY pair fell on Thursday, but turned around to form a hammer. The hammer is a bullish sign, especially considering it is at the top of a very strong move higher. However, we could get a bit of a pullback in I would quite frankly like to see that. The 120 level below is support as far as I can tell, because it was so resistive in the past. With this, I love buying pullbacks as we should continue to see the Japanese yen selloff in general. Pay attention to the USD/JPY pair, because of it moves higher, this pair will follow.

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