EUR/JPY Forecast February 16, 2016, Technical Analysis

The EUR/JPY pair initially fell during the day on Monday but turned around to form a bit of a slightly positive candle. This is a market that looks as if it is trying to find a bit of a bottom here somewhere near the 127 handle, so above 128 we are willing to start buying this market and reach towards the 130 handle. However, we realize that the market will be volatile and will be very sensitive to all of the things that are going on around the world. We have no interest in selling at this moment as there seems to be quite a bit of support just below.