EUR/JPY Forecast June 10, 2016, technical Analysis

The EUR/JPY pair broke down to a fresh, new low during the day on Thursday, as we are trying to get down to the 120 handle. With this being the case, it’s more than likely going to be a situation where you can sell short-term rallies going forward with the downward momentum. Ultimately, this is a market that is going to continue to suffer due to the fact that we are very volatile right now in general and it is so risk sensitive. I prefer the downside over the upside, but I do recognize we may need to rally from time to time in order to build up momentum for sellers.