EUR/JPY Forecast August 10, 2015, Technical Analysis

The EUR/JPY pair went back and forth during the course of the session on Friday, essentially forming a neutral candle. With this, it appears as if we are going to simply go nowhere in the meantime, but we do think ultimately this pair has enough support below it to push things higher. With this, we are buyers of pullbacks and show signs of support. We believe that if we break above the 138 level, at that point in time should then go reaching for the 140 handle given enough time. Ultimately, there are easier ways to trade both the Euro and the Yen.