EUR/JPY Forecast May 24, 2016, Technical Analysis

The EUR/JPY pair fell on Monday, signaling weakness yet again. The market has broken below the 123 level during the day, and this should lead down to the 121.50 region below, as it was so supportive in the past. The candle looks to close at the bottom, and this normally means that the market should continue to see sellers take the helm. The pair is highly sensitive to risk appetite, so keep this in mind, as it will rally when things are good, and fall when they are bad, such as the stock markets.