EUR/JPY Forecast July 29, 2016, Technical Analysis

The EUR/JPY pair did very little during the course of the session on Thursday to show quite a bit of neutrality. It appears that the market just isn’t ready go anywhere, and I believe that today will be very similar. The 115 level below should be massively supportive, so feels only a matter of time before the buyers step in and continue to push back and forth as this market seems to be essentially stuck in consolidation, and with that I’m not overly interested in trading this market, except for may be a short-term bounce for a short-term trade.