By FXEmpire.com
The EUR/JPY pair attempted to rally during the Thursday session, but fell back down to form a shooting star. More interestingly, the candle formed is a shooting star just above the 100 level. Because of this, we think that this market will fall back down, and would sell on a break of the bottom of the session for Thursday. The market has been in a long term downtrend at this point, and a fall back to previous lows is very possible. The market is a “sell only” one at this point, and as long as the USD/JPY doesn’t sell off aggressively, this market should be left alone by the Bank of Japan and continue to fall.
Click here a current EUR/JPY Chart.
Originally posted here
