EUR/JPY Forecast May 20, 2016, Technical Analysis

The EUR/JPY pair fell during Thursday, testing the 123 handle. The market looks like it is trying to break down, but at this point in time there is a lot in the way of support. Because of this, I feel that this market is probably best left alone, so the market will have to give us a longer-term signal in order to get involved. The market will be monitored by us, and we will of course keep you informed on our thoughts about this pair. Keep in mind that the pair tends to follow stock markets and risk appetite in general.