EUR/JPY may rise 51 - 76 pips

174.88 is our pivot point.

Our preference

As long as 174.88 is support look for 176.07.

Alternative scenario

Below 174.88, expect 174.46 and 174.21.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 175.19 and 175.06). Finally, the EUR/JPY is trading above its upper Bollinger band (standing at 175.29).

Supports and resistances

176.57 **

176.32 *

176.07 **

175.82

175.31 last

175.04

174.88 **

174.46 *

174.21 **

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