EUR/JPY Forecast September 9, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the course of the day on Thursday but then turned right back around at the 115 handle. The shooting star formed due to the fact that the ECB has reiterated its ultra-loose monetary policy, so I think at this point in time we will probably grind around just below the 115 handle for the next couple of sessions as we try to figure out which way to go next. A break above the top of the shooting star would of course be very bullish though so having said that I am aware of that potential trade.

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