EUR/JPY
The upward trend in financial markets in generally in the the euro-yen Japanese in particular, still not concluded. The fact that during the descent, the euro, Japanese yen reached a 50% Fibonacci retraction but failed to close below reflects a change of direction and the resumption of the original upward sequence of the pair.
It is estimated that the pair will move to new price peaks around 120.00 and 124.00 levels, is possible take advantage of more modest price target, and locate it in relation to the nearest resistance level, and secure around 118.00 Japanese Yen. It is important to emphasize that a reverse, below the 50% level will cancel the positive outlook respect the pair.