EUR/JPY Forecast December 9, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the day on Thursday but found the area above the be far too resistive as the market turned back around. This had a lot to do with the ECB suggesting that quantitative easing was going to run another 9 months beyond the March 2017 deadline. Because of this, the Euro fell apart. However, I see quite a bit of support at the 120 level so I feel it’s only matter of time for the buyers get involved, because quite frankly the world has been focusing more on Japanese yen weakness than anything else. - 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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