EUR/JPY Forecast February 26, 2016, Technical Analysis

The EUR/JPY pair fell initially during the course of the session on Thursday, but turned back around and form a hammer. The hammer of course is a very bullish sign but we still maintain that the market needs to break above the 125.50 level in order to be a pair that we are willing to start buying. Ultimately, the market could go higher at that point, but until then we are very cautious about trying to buy this market. A resistive candle however, that would be reason enough to start selling as we are most certainly in a downtrend.