EUR/JPY Forecast May 11, 2016, Technical Analysis

The EUR/JPY pair rose again during the day on Tuesday, as we are aiming towards the 125 handle. Pullbacks at this point in time should continue to see support, but it would not be surprising at all to see a resistive candle on the daily charts or closer to the 125 handle, as we have been in a general downtrend for some time. Short-term traders will probably be bullish, while longer-term traders will still be a bit suspicious of this market. With that being the situation, it’s likely that volatility will continue to be a huge part of this market.