EUR/JPY Forecast February 8, 2016, Technical Analysis

The EUR/JPY pair went back and forth during the day on Friday, as the 130 level offered enough support to keep the sellers away. However, the buyers worn exactly around either, so this looks like a market that is simply going to grind away and try to catch its breath. This is a very risk sensitive market, so a break down below the 130 level it coincides with selling in the stock markets around the world would be reason enough to start shorting the Euro against the Japanese yen. The only thing that we can count on here is going to be volatility.