EUR/JPY daily chart, December 05, 2016

EUR/JPY Forecast December 6, 2016, Technical Analysis

The EUR/JPY pair has gone back and forth to form a very neutral candle. This was after a massive move higher and a break out above the 120 handle, so I think we will more than likely see a pullback from here. I believe that the 120 level is supportive though, so a supportive candle in that area would be a nice buying opportunity. In fact, I believe that the best way to trade this market, looking for value at lower levels. After all, this is about the Japanese yen and not the Euro itself.