EUR/JPY Forecast February 17, 2015, Technical Analysis

The EUR/JPY pair broke down during the course of the day on Tuesday, slicing through the bottom of a couple of hammers. This is a very negative sign, but we also see that there is quite a bit of support just below. With that being the case, we think that short-term sellers may enter this market off of exhaustion, but at this point in time we do not expect a whole lot more than that. At this point in time, the one thing that we can count is going to be volatility as the markets continue to show quite a bit of indecision.