Estimating dense visual correspondences between objects with intra-class variation, deformations and background clutter remains a challenging problem. Thanks to the breakthrough of CNNs there are new powerful features available. Despite their easy accessibility and great success, existing semantic flow methods could not significantly benefit from these without extensive additional training. We introduce a novel method for semantic matching with pre-trained CNN features which is based on convolutional feature pyramids and activation guided feature selection. For the final matching we propose a sparse graph matching framework where each salient feature selects among a small subset of nearest neighbors in the target image. To improve our method in the unconstrained setting without bounding box annotations we introduce novel object proposal based matching constraints. Furthermore, we show that the sparse matching can be transformed into a dense correspondence field. Extensive experimental evaluations on benchmark datasets show that our method significantly outperforms existing semantic matching methods.