EUR/JPY Forecast June 17, 2016, Technical Analysis

The EUR/JPY pair fell drastically during the day on Thursday, as we reached all the way towards the 115 level. However, there was a significant bounce to the upside so we gave back quite a bit of the gains. Ultimately though, it seems as if this pair is certainly broken, and should continue to offer short-term selling opportunities going into the future. With that, I have no interest in buying and I believe that we will reach back down towards the 115 handle given enough time. In fact, I have no interest in buying until we break back above the 120 level, something that will take quite a bit of momentum.

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