The currency pair Euro to Japanese Yen EUR/JPY finished the trading week at the level of 115.232. The pair continues to trade below the lower boundary of the Ichimoku Cloud, which indicates a downward trend in the Euro Yen pair. It is expected to test the area of signal lines near the level of 116.900, from which one should expect an attempt to fall and develop a bearish tendency for a pair with the goal of reducing to the level of 113.900.
Ichimoku Kinko Hyo EUR/JPY Forecast on April 17 — 21, 2017
Previously, a strong signal was received for the sale of the Euro-Yen pair, due to the intersection of the signal lines at the level of 120.600. The abolition of the decline option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 120.800, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations EUR/JPY is with the breakdown of the local minimum area at 114.900.
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