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Signal Sell Target EurJpy 2017
- EUR/JPY reached sell target 120.00
- Next sell target – 119.00
EUR/JPY today broke the support zone lying between the support level 120.00 (which was set as the sell target in our earlier forecast for this currency pair) and the 38.2% Fibonacci retracement level of the previous upward impulse from November. The breakout of this support zone is likely to accelerate the active minor C-wave of the intermediate ABC correction (2) from December.
If the pair closes today below 120.00 - EUR/JPY can, then, be expected to fall to the next sell target at the support level 119.00 (50% Fibonacci retracement level of the aforementioned upward impulse from November).