The best opportunities are often found in markets that have bored the fast-money chasers. EUR/JPY is usually among the most volatile spots in the market but that hasn’t been the case in the short term. The range in EUR/JPY in the past two weeks is a mere 1.25% — less than 180 pips.

The longer-term picture is similar as the pair has wedged for the past 6 months. The pair is now square in the middle of its recent ranges.

EURJPY daily chart

EUR/JPY daily

Watch for headlines — likely from the BOJ or ECB — that will get this pair moving. Once it starts to move, hop on and wait for the 100+ pip daily moves to come.