EUR/JPY Forecast March 4, 2016, Technical Analysis

The EUR/JPY pair initially went higher during the course of the session on Thursday, as we are trying to reach towards the 125 handle. That level of course is a massive resistance area, so it’s of that if we can break above that level we think that the market could go much higher. On the other hand, if we get a resistant candle near that area, that should be a selling opportunity as the market has quite a bit of noise in that general vicinity and of course we are in a major downtrend overall.