EUR/JPY Forecast May 13, 2016, Technical Analysis

The EUR/JPY pair initially tried to rally during the day but pullback to get some of the gains back as we continue to struggle going higher. However, we do believe that waiting for a daily close above the 125 level is absolutely important to feel confident in going long. If we get some type of exhaustive candle in this area, it could end up being a very nice selling opportunity. Volatility is one thing you can count on, and as a general rule we are not overly interested in this market at the moment.