EUR/JPY Forecast September 7, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the course of the session on Tuesday, but then broke down below the 115 level. The 115 level be important of course, but I think the real support is closer to the 140 level. If we get some type of supportive candle in this general vicinity, the market could very well bounce and reach towards the 118 level above. I don’t have any interest in selling yet, but at this point in time it’s likely that this pair will follow the overall risk appetite of the markets in general as it typically does.

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