EUR/JPY Forecast December 22, 2016, Technical Analysis

The EUR/JPY pair initially fell on Wednesday but found enough support underneath to turn things back around and form a slightly positive candle. Ultimately, it looks as if the buyers are going to return every time we dipped, and that of course makes quite a bit of sense as it offers value in a market that is extraordinarily bullish. Because of this, it’s only a matter of time before the buyers return on dips, and I recognize that the 120 level should continue to be massively supportive going forward. Ultimately, I believe this pair reaches towards the 125 handle.