If we look at EUR/JPY monthly chart it has been trading in the range of 188 touched in May 1990 to 90 touched in October 2000 with a downward bias. The current downward trend began in December 2014 from the levels of 150 on monthly charts.
After falling to the lows of 109.6 in June 2016 it has been in retracement mode with support coming in at price levels of 112.2.
I expect it to trade in range for few more weeks before it resumes it's downward trend again.
I expect the price to be around 117.2…
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