EUR/JPY Forecast August 3, 2015, Technical Analysis

The EUR/JPY pair initially tried to rally during the course of the session on Friday, but turned back around to form a massive shooting star. Fact, this is indicative of how the Euro performed all-around the markets during the session. We believe that this market is going to continue to go lower, and on a break down below the bottom of the range for the session on Friday would have us shorting this market, heading down towards the 134 level given enough time. Regardless though, we would anticipate that there is a lot of volatility.