EUR/JPY Forecast July 20, 2016, Technical Analysis

The EUR/JPY pair fell slightly during the course of the session on Tuesday, but as you can see has seen quite a bit of bullish pressure lately. With this, I feel that this market could very well drop back down to the 115 level, where I would anticipate seeing quite a bit of support. Ultimately, this is a market that is in a downtrend, but this latest rally at this point in time has shown quite a bit of bullish pressure. This is a necessarily because of the Euro, it’s more than likely due to the Bank of Japan.