EUR/JPY Forecast November 5, 2015, Technical Analysis

The EUR/JPY pair broke down during the course of the day on Wednesday, testing the lows again. With this being the case, the market should continue to be fairly negative, even if we do bounce from here. After all, they Euro looks very soft in general. But we recognize that a fresh, new low could offer a selling opportunity down to the 130 handle. On the other hand, if we get a short-term bounce that show signs of exhaustion on short-term charts, were willing to sell at that level as well as the downward pressure is so strong.