EUR/JPY Forecast November 4, 2016, Technical Analysis

The EUR/JPY pair fell slightly during the course of the session on Thursday, as we continue to go back and forth in the larger consolidation area. Because of this, I feel that the market will probably continue lower but we also have the jobs ever which can throw a bit of a monkey wrench into all of the currency markets out there. At this point in time though, I have to admit that the sellers seem to have the upper hand, at least for the next handle or 2. Because of this, I may just simply stand on the sidelines.