Forex Technical Analysis, EUR/JPY Daily Forecast June 3, 2016
Technical Analysis – The EUR/JPY pair broke down significantly during the course of the session on Thursday, breaking down to a fresh, new low at one point during the day. With that being the case, the market looks very likely to continue to go lower, and short-term rallies will more than likely offer selling opportunities on short-term charts, and as a result we can look for “value” when it comes to the Japanese yen. Ultimately, looks as if the market will probably try to reach down to the 120 level, which is our target on the longer-term charts.
In Other View Point EURJPY Weekly Double bottom Possible
I have been watching the 4hr and Daily Time frames and felt that we had reached the bottom, the pair has pushed a bit further lower as we can see with the wick on this weeks candle If the cande doesn’t close outside of this box I feel we could see a reversal in the coming weeks
Courtesy : http://www.fxempire.com/technical/technical-analysis-reports/eurjpy-forecast-june-3-2016-technical-analysis-341851