EUR/JPY Forecast December 26, 2016, Technical Analysis

The EUR/JPY pair went back and forth on Friday, showing signs of indecision. I think that maybe we are a bit exhausted at the moment, and a pullback is all that imminent. However, I’m not willing to sell this market as I think there is more than enough support underneath to keep this market to flow. I believe that the 120 level is the “floor” in this market, and that somewhere between here and there we will see the supportive candle that we need to start buying yet again. I have a target of 125 currently.