EUR/JPY Forecast May 17, 2016, Technical Analysis

The EUR/JPY pair rose during the course of the day on Monday, as we continue to see buyers below. With this, we feel that the market is probably going to try to reach towards the 125 handle, as it is the next large, round, psychologically significant number, and it of course offered resistance the last time we got near it. We think short-term trading will probably be about as good as this pair gets right now, and as a result we are very quick to take any profits that we received to the upside.