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EUR/JPY Forecast February 3, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 3, 2017, 04:34 UTC

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

EUR/JPY daily chart, February 03, 2017

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.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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