EUR/JPY Forecast February 22, 2016, Technical Analysis

The EUR/JPY pair fell initially, but found enough support at the 125 handle on Friday to test the large number. Because of this, looks like we could have a bit of a bounce but this is a market that’s in a strong enough downtrend now that we would look at that bounce as an opportunity to start selling again. On the other hand, we break down below the 125 level we would be sellers as we could go down to the 122 handle next. Ultimately, we are very bearish of this market in the meantime