Euro Yen currency pair EUR/JPY is trading at 121.08. The pair continues to move above the Ichimoku Cloud, which suggests the presence of an upward trend for the pair and points to continued growth with the first target near 121.70 area.
Ichimoku Kinko Hyo forecast EUR/JPY on March 6, 2017
Previously it received a weak signal in favor of buying the Euro Yen. However, we should not exclude the correction attempt to 120.50. where once again we can expect continued growth. In favor of the correction can be a test of the strong resistance level at the moment.
Cancellation option of growth of pair EUR/JPY will fall, and the breakdown of the inferior border of the Ichimoku Cloud with closing quotations below 119.15, which indicates the potential change of the trend in favor of fall.
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