The currency pair EUR/JPY is trading at 121.67. The pair is trading above the moving average with a period of 55, indicating an upward trend in the pair. At this point, we should expect a tight test of the lower border of the indicator bars at 121.30, where the conservative area for pair purchases is located. It is necessary to expect a rebound and the continued growth of quotations of the euro yen in the area above the level of 123.00.
Bollinger Bands EUR/JPY forecast on March 15, 2017
Cancellation of the development of the upward trend in the pair may be a drop and a breakdown at level 121.05, which indicates a potential change in the trend in favor of a downward pair. Expect to accelerate the growth of the pair EUR/JPY is with the breakdown of the area of 123.15, which indicates the breakdown of the upper boundary of the indicator bars.
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