EUR/JPY – Currency exchange rate forecast 21.08.2019: as long as 117.86 is support look for 118.91

EUR/JPY - Currency exchange rate forecast 21.08.2019: as long as 117.86 is support look for 118.91

The MACD is below its signal line and positive.

Our pivot point is at 117.86.

Our preference: as long as 117.86 is support look for 118.91.

Alternative scenario: the downside breakout of 117.86 would call for 117.48 and 117.25.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is below its 20 MA (118.19) but above its 50 MA (118.05).

Supports and resistances:

119.36 **

119.13 *

118.91 **

118.68

118.17 last

118.01

117.86 **

117.48 *

117.25 **

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