EUR/JPY Forecast February 12, 2016, Technical Analysis

The EUR/JPY pair fell during the day on Thursday, but did find enough support to turn things around and form a bit of a hammer. That hammer of course is a bullish sign, we could very well try to reach towards the 13 level. This is a market that seems to have quite a bit of support in this general vicinity, so with that we are looking to buy on a break above the top of the range. We’ll have any interest in selling at the moment, because below the range that we have been trading in during the day on Thursday, we have to deal with the 125 level which of course is a large, round, psychologically significant number.