EUR/JPY forecast for the week of July 4, 2016, Technical Analysis

The EUR/JPY pair had a slightly positive week, but most importantly we stabilized after the precipitous fall. While I don’t necessarily think that this market is going to take off to the upside now, I would not be surprise at all to see a little bit of a bounce in the short-term. I think that’s going to end up being a selling opportunity ultimately, but I think that at this point in time it’s difficult to take a trade for any real length of time, and I believe that the short-term charts will be the way to go.