EUR/JPY Forecast February 6, 2017, Technical Analysis

The EUR/JPY pair had a very neutral candle form for the Friday session, as we continue to find support at the 125 handle. Because of this, the market looks as if the buyers will enter the market sooner or later. I think the 120 level continues to be massively supportive, so I have no interest in selling. The market should then bounce towards the 124 handle, and then perhaps the 125 level above. There is a lot of choppiness in this market, and I believe that will continue to be the way going forward.