EUR/JPY Forecast August 30, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the course of the session on Monday, turning right back around to form a bit of a shooting star. The shooting star of course is a very negative sign and as a result I do think that the sellers are to come back into the marketplace. The 115 level above has been resistive in the past, and I now think that it will continue to be the “ceiling” in this market at this point, and therefore I am “sell only” when it comes to the EUR/JPY pair.

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