EUR/JPY forecast for the week of November 21, 2016, Technical Analysis

The Euro broke higher during the course of the week, breaking above the 160 handle. In fact, Friday sell this market reaching towards the 170 level and it now looks as if we are trying to break towards the 118 handle. At this point, you have to think that the market is trying to break out to the upside for a longer-term move, and that should continue to favor the buyers every time we pullback. It could be fairly volatile, but I still believe that the buyers are starting to take control.