EUR/JPY Forecast September 23, 2016, Technical Analysis

The EUR/JPY pair rallied during the course of the session on Thursday, testing the 113 level. However, this point in time I think that we will more than likely see some type of exhaustive candle above that gives us an opportunity to start selling again. With this being the case, I think that the market will then eventually drop down to the lows yet again. I believe that the Euro will continue to weaken overall, and as a result I am bearish of this pair. Ultimately, I think that we will probably reach towards the 110 level over the longer term.

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