EUR/JPY may rise 53 - 78 pips

174.88 is our pivot point.

Our preference

The upside prevails as long as 174.88 is support.

Alternative scenario

Below 174.88, expect 174.46 and 174.21.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 175.11 and 174.96).

Supports and resistances

176.49 **

176.24 *

176.00 **

175.75

175.22 last

175.04

174.88 **

174.46 *

174.21 **

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