EUR/JPY Forecast February 3, 2017, Technical Analysis

The EUR/USD pair fell slightly during the day on Thursday, but continues to find support just below. Because of this, I think that it is only a matter of time before the buyers get involved again. With this in mind, I am willing to go long of this market but I would anticipate that there would be quite a bit of choppiness ahead of us. I think that the 120 level is the “floor” in this market, and thus if we stay above there the uptrend is very much intact and very healthy.