EUR/JPY Forecast January 18, 2017, Technical Analysis

The EUR/JPY pair continues to see quite a bit of volatility as we are grinding down towards the 120 handle. That’s an area where we had previously seen so much resistance, so I believe that sooner rather than later the buyers will get involved in this market, and perhaps bounce towards the 125 handle again. I don’t like the Euro, but this is a market that certainly looks like traders are focusing on the Japanese yen in general. Ultimately, I think there is massive support all the way down to the 118.50 level below.