EUR/JPY Forecast May 18, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the day on Tuesday but turned around to form a massive shooting star. That of course is a negative sign, so if we break down from here we could very well drop down to the 122 handle. On a break above the top of the shooting star though, the market very well could then reach towards the 125 handle. You away, it’s going to be choppy to say the least. If we can break above the 125 level, the market should continue to go much higher.