Advertisement
Advertisement

EUR/JPY forecast for the week of January 16, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 16, 2017, 06:59 UTC

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

EUR/JPY weekly chart, January 16, 2016

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.

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.

Did you find this article useful?

Advertisement