EUR/JPY Forecast December 8, 2016, Technical Analysis

The EUR/JPY pair went back and forth during the day on Wednesday, showing quite a bit of exhaustion. I think we will probably pullback at this point, but quite frankly that should end up being a buying opportunity at lower levels on signs of support. I think that the 120 level is massively supportive and essentially the “floor” in this market. With this, some type of supportive bounce should happen, as it would continue the longer-term uptrend in a market that has been so bullish over the last couple of months. I don’t like the Euro, but I recognize that the Japanese yen is selling off rapidly. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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