Technical analysts at Citigroup claim that EUR/JPY may decline to the minimal levels since 2000.
The specialists claim that if euro falls below 95.50 (level close to June 1 minimum), it will slide to 92 yen. On the Ichimoku chart the pair dropped below conversion and base lines which formed the “dead cross” below the Cloud – a bearish signal.
As for the fundamental factors, they are also in favor of Japanese currency: persistent risk-off sentiment and no additional easing announced by the BOJ last week.
As for USD/JPY, it may decline to 77.66 if it breaches the 78.61 level.
Have a profitable trade with FBS!
If you have any questions to our analysts, you're welcome to ask them in comments to this article!
The archive of market news and analytics is available here
FBS Brokerage Company