Currency pair Euro to Japanese Yen EUR/JPY continues to move in the framework of the decline. At the time of publication of the Forex forecast, the Euro/Japanese Yen rate is 129.98. At the moment, we can expect a test of the resistance level near the area of 130.55, then a rebound and a continued decline in the EUR/JPY quotes to the area below the level of 127.50.
EUR/JPY forecast Euro to Japanese Yen October 11, 2018
In favor of reducing the pair EUR/JPY there will be a test of a broken trend on the indicator of relative strength index (RSI), as well as a rebound from the upper limit of the bearish channel. Cancellation of the option of falling quotations of the Euro/Yen currency pair at Forex will be a strong growth and a breakdown of the level of 131.00, which will indicate a breakdown of the upper border of the channel and the continued growth of EUR/JPY quotes in the area above the level of 132.50. It is necessary to wait for confirmation of the pair’s fall with the breakdown of the support area and closing of quotes below the level of 129.05.
EUR/JPY forecast Euro to Japanese Yen October 11, 2018 suggests an attempt to test the resistance area near the level of 130.55 and the pair continue to fall into the area below the level of 127.50. there will be strong growth and a breakdown of the area of 131.00.