Bitcoin / Yen may rise to 8880200 - 8988700

Our pivot point is at 8478700.

Our preference

Rebound towards 8988700.

Alternative scenario

The downside breakout of 8478700 would call for 8297300 and 8189400.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (8588189) but under its 50 period moving average (8720362).

Supports and resistances

9205600 **

9097200 *

8988700 **

8880200

8629652 last

8549900

8478700 **

8297300 *

8189400 **

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