By FXEmpire.com
The EUR/JPY pair fell during the Thursday session, as the European woes continued. The pair has sliced through the 97 handle, and it does look set to retest the lows near the 95 handle. This pair is obviously bearish, and as such we will only sell it. A bounce could come from this area as we would expect a bit of support, but the fact is that bounces should only be that – a simple bounce from and oversold conditions.
Because of this, we are selling a break of the Thursday lows, and even more interestingly will be looking for rallies to fade on week candles. We suspect that the 98 handle will produce quite a bit of resistance, and would not hesitate to sell a week candle at that area as an example.
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Originally posted here
