EUR/JPY may fall 97 - 142 pips

Our pivot point stands at 164.73.

Our preference

The downside prevails as long as 164.73 is resistance.

Alternative scenario

Above 164.73, look for 165.48 and 165.93.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 164.31 and 164.54).

Supports and resistances

165.93 **

165.48 *

164.73 **

164.44

164.12 last

163.15

162.70 **

162.26 *

161.81 **

Number of asterisks represents the strength of support and resistance levels.