Also confirmed on the graphs based on the Ichimoku cloud, EurJpy will find a valid support in 128.50 (38.2% of retracement of the entire upside started in 2012), but the break of this level would push the cross towards 122.
The underestimation of the Yen against the Dollar in terms of purchasing power parity seems to ward off in the short term the weakness of the Yen that has never been so competitive in the 80s with an underestimation that is now approaching 30% against the greenback.
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