Currency pair EUR/JPY Euro to Japanese Yen is trading at 131.88. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Euro/Yen pair. The test area of Ichimoku Kinko Hyo signal lines near the level of 132.10 is expected, from which it is expected to attempt a rebound and further development of the bearish trend with a view to falling near the level of 130.65.
Euro Yen forecast EUR/JPY on November 9, 2017
Earlier, a signal of medium strength was obtained for the sell of the Euro/Yen pair, due to the crossing of the signal lines at 132.45. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 133.20, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations EUR/JPY is with the breakdown of the level of support and closing below 131.45.