BTMU predicts decline in euro

According to analysts Bank of Tokyo-Mitsubishi UFJ, within two weeks the European currency may drop to 1-month minimum against the Japanese yen. The fact that the 200-day moving average is still showing a downward trend signals that the euro may decline against the yen to 128 yen. Indicators for the daytime schedules, such as convergence / divergence of moving averages (MACD), also indicate a negative trend of the euro against the Japanese currency. The European currency is likely to drop against the yen to 128.87 - the level represents a 38.2% correction of the growth of a pair of January to June maxima minima. If the couple down below 128.87, the possibility of further reduction of euro / yen to the 200-day moving average at 128.10 - its lowest level since March 18. At this time, a pair of euro / yen trading at around 133.83.