EUR/JPY Forecast October 21, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the course of the session on Thursday, but turned back around and form a bit of a shooting star. The shooting star of course is very likely a sign that we are going to continue to see bearish pressure. The 112 level below is massively supportive though, so a bounce as far as I would take a selling position at this point in time. If we rally, I think that given enough time we will see an exhaustive candle that we can search selling as well.