EUR/JPY Forecast October 26, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the course of the session on Tuesday, but turned right back around to form a fairly exhaustive looking candle. With this, I believe that a break down below the bottom of the range for Tuesday is reason enough to start selling again. There are quite a few different resistance barriers above, so at this point in time even if we break above the top of the shooting star is something that I’m a little bit leery of, and as a result I have no interest whatsoever in going long at the moment.