EUR/JPY forecast for the week of January 16, 2017, Technical Analysis
The EUR/JPY pair fell during the week, breaking down below the 122 handle. We bounced a bit from there, showing signs of life. I believe that the market is going to try to get to the 125 handle, and perhaps break above there. If we do, the market should go
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The EUR/JPY pair fell during the week, breaking down below the 122 handle. We bounced a bit from there, showing signs of life. I believe that the market is going to try to get to the 125 handle, and perhaps break above there. If we do, the market should go much higher. Ultimately, that would be an extraordinarily bullish sign and although I don’t necessarily like the Euro in general, the Japanese yen I like even less. If we do pullback, the 120 handle below is a hard floor currently.
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