EUR/JPY may rise 58 - 86 pips

173.98 is our pivot point.

Our preference

The upside prevails as long as 173.98 is support.

Alternative scenario

Below 173.98, expect 173.51 and 173.23.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 174.24 and 174.18).

Supports and resistances

175.76 **

175.49 *

175.21 **

174.93

174.35 last

174.16

173.98 **

173.51 *

173.23 **

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