The Currency pair Euro Yen EUR/JPY is trading at 120.169. The pair continues to move below the moving average with a period of 55, indicating a bearish trend for the Euro Yen. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the upper boundary of the bands, where again we should expect an attempt to continue the decline with the first goal near the level of 118.90.
Bollinger Bands forecast EUR/JPY on March 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 120.70. The cancellation of the variant of the continuation of the fall of the Euro Yen will be the breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotations above the area of 121.00, indicating a change in the bullish trend for EUR/JPY. In the event of a breakdown of the lower boundary of the indicator strip, it is expected to accelerate the fall of the pair into the area below the level of 118.90.