Currency pair Euro to Japanese Yen EUR/JPY is trading at 122.930. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Euro/Yen. The currency pair EUR/JPY is expected to rise near the level of 123.600, from which it is expected to try to fall and develop a bearish tendency for the pair with a view to lower near the level of 121.900.
EUR/JPY Euro Yen forecast on June 8, 2017
Earlier, a weak signal was received for the sale of the pair of Euro/Yen, due to the crossing of signal lines at 124.500. The cancellation of the fall of the pair quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 124.700, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations EUR/JPY stands with the breakdown of the local minimum area at 122.300.