EURJPY Weekly Outlook

EURJPY is over extended, so although we expect the market to continue going up, we would like to see a fairly deep pullback before going long.

The market actually seems poised for a mean reversion, so we expect some sell off in the short term before continuing its uptrend.

The market could also be at the top of a range and ready to sell off. We will stay on the sidelines until further price action develops.