EUR/JPY Forecast February 4, 2016, Technical Analysis

The EUR/JPY pair went back and forth during the course of the session on Wednesday, testing the 130 level. That being the case, the market looks as if it is going to try to bounce from here and continue to go much higher. We have no interest in shorting this market, and on a break above the top of the range for the session on Wednesday we feel that buying can be done. The 132.50 level will be attempted again, and we feel it’s only a matter of time before we get there.