EUR/JPY Forecast February 10, 2016, Technical Analysis

The EUR/JPY pair rose during the course of the day on Tuesday, but struggled at the 130 level. Because of this, we feel that the market will more than likely try to go higher, but it needs to clear the top of the candle from the Monday session in order for us to start buying again. In the meantime, we anticipate seeing quite a bit of volatility, and therefore are a bit challenged as far as putting in money as this market has been so choppy. Ultimately, we believe that this market should go higher, but right now you have to keep in mind that it is very risk sensitive as well.