EUR/JPY Forecast July 13, 2016, Technical Analysis

The EUR/JPY pair broke out to the upside during the day on Tuesday, as we are well above the 115 level now. With this, I think we are going to try to make it move to the 119 handle, perhaps even the 120 level. This is based more upon the threat of stimulus or intervention coming out of the Bank of Japan. With that, it’s very likely that this pair will continue to go higher but it won’t necessarily be the easiest trade hang onto because of all of the issues coming out of the European Union.