EUR/JPY Forecast January 26, 2017, Technical Analysis

The EUR/JPY pair fell initially during the session on Wednesday, but found enough support to turn around and form a positive candle again. I believe that the EUR/USD pair will continue to go higher but there is quite a bit of noise above, so it’s not can be an easy move. However, if you can sit through the volatility and think more long-term, this might be a buying opportunity as the EUR/JPY pair should go reaching towards the 124 level again. I currently believe that the 120 level below is still the “floor” in this market.