EUR/JPY Forecast March 1, 2016, Technical Analysis

The EUR/JPY pair fell significantly during the course of the session on Monday, testing the lows yet again. Ultimately, this looks as if the market is ready to break down and try to reach towards the 120 handle, which is the next major number as far as longer-term charts are concerned. At this point in time, we believe that short-term rallies will be selling opportunities on signs of exhaustion, as the 125 level should continue to be a bit of a ceiling at this point in time. We have no interest in buying whatsoever at this point in time.