EUR/JPY Currency exchange rate forecast 19.08.2019: target 117.48

EUR/JPY Currency exchange rate forecast 19.08.2019: target 117.48

The MACD is positive and below its signal line.

Our pivot point stands at 118.49.

Our preference: target 117.48.

Alternative scenario: the upside breakout of 118.49, would call for 118.88 and 119.10.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is below its 20 MA (118.25) but above its 50 MA (118.09).

Supports and resistances:

119.10 **

118.88 *

118.49 **

118.34

118.16 last

117.70

117.48 **

117.25 *

117.02 **

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