EUR/JPY Forecast October 12, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the day on Tuesday, but then turn right back around to form a very negative candle. This negative candle suggests that we are going to go lower, and therefore I believe that the sellers are getting continue to return to this market time and time again. I think short-term rallies will offer exhaustive candles that we can then sell, as the market looks like it’s ready to reach down to the 112 level below. I have no interest in buying at this point in time. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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