Euro Yen will rise again

April 16, 2014 by

eurjpy-h4-ironfx-financial-services

With the recent rise in EUR/JPY, taking into consideration that on the H4, it has formed a range between 143.779 and 139.954, it is due to retrace back to the 23.6 fib level at 141.406. The 55 EMA is hanging around just below this point ATM and by the time it falls back to the 141, the 55 should be around that point anyway and we could expect another big surge on the upside.