EUR/JPY Forecast January 19, 2017, Technical Analysis

The EUR/JPY pair rallied a bit during the day on Wednesday, as we are starting to show signs of stability. However, I think that we could get a lot of choppiness between here and the 120 handle below, but eventually the buyers will take over. Given enough time, will reach towards the 124 level yet again. I have no interest in selling this market, I believe that the 120 level extends all the way down to the 118.50 level as far as support is concerned. I have no interest in selling this market.