EUR/JPY Forecast October 10, 2014, Technical Analysis

The EUR/JPY pair fell during the course of the day on Thursday, testing the 136.50 support area. The market looks as if it’s ready to continue consolidating, and as a result we are buying supportive candles below, most specifically somewhere around the 136 handle, just as we would be buying on a break above the 138 handle, as it would show a move in the momentum to the upside. In between here and there, we think that this market will continue to be very choppy and sideways, thereby making it somewhat uninteresting.