EUR/JPY – Currency exchange rate forecast 23.08.2019: below its lower Bollinger band

EUR/JPY - Currency exchange rate forecast 23.08.2019: below its lower Bollinger band

Alternative scenario: the upside breakout of 118.24 would call for 118.62 and 118.85.

Our pivot point stands at 118.24.

Our preference: the downside prevails as long as 118.24 is resistance.

Alternative scenario: above 118.24, look for 118.62 and 118.85.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 118.00 and 117.98). Finally, the EUR/JPY is trading below its lower Bollinger band (standing at 117.90).

Supports and resistances:

118.85 **

118.62 *

118.24 **

118.09

117.90 last

117.44

117.22 **

116.99 *

116.76 **

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