EUR/JPY Forecast June 13, 2016, Technical Analysis

The EUR/JPY pair fell during the course of the day on Friday, but turned right back around to form a bit of a hammer. The hammer of course is a bullish sign, and the fact that we formed one on Thursday as well suggests that we could get a bit of a bounce in the short-term. However, there is still a significant amount of bearish pressure in this market, so any rally at this point in time should offer another selling opportunity on signs of exhaustion as the market continues to grind lower.