Euro May Advance to April High on Ichimoku: Technical Analysis
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The euro may climb to the highest against the yen since April as the currency’s ichimoku chart sends “three buying signals,” said Junichi Ishikawa, an analyst at IG Markets Securities Ltd.
The daily chart’s conversion line, which indicates a near-term direction, is above the base line, while the euro is trading higher than the so-called cloud, said Tokyo-based Ishikawa. As the lagging span is above the trading range of the 17-nation euro, these are seen as the three signals to buy the currency, he said.