EUR/JPY forecast for the week of August 17, 2015, Technical Analysis
The EUR/JPY pair broke higher during the course of the week, slamming through the 138 level. By doing so, it shows that the market is ready to continue going higher, and we believe that this market will head towards the 140 handle given enough time. We believe pullbacks are buying opportunities, and we have no interest whatsoever in selling. We also recognize that the 134 level is acting as a “floor” in this pair at the moment. With this, we are bullish but we recognize that volatility in choppiness will probably continue.