EUR/JPY Forecast January 26, 2016, Technical Analysis

The EUR/JPY pair initially fell during the course of the session on Monday, turning back around to form a hammer. The hammer of course suggests that the buyers are more than likely going to trying to push this market to the upside, and as a result the 130 level will probably be attempted. Short-term traders may be interested, but in general it will be very volatile and keep us on the sidelines as it will be easier ways to trade the Euro at this point in time, most specifically against the Swiss franc.