EUR/JPY may rise 63 - 108 pips

Pivot

171.45

Our preference

Long positions above 171.45 with targets at 173.00 & 173.45 in extension.

Alternative scenario

Below 171.45 look for further downside with 170.90 & 170.30 as targets.

Comment

A support base at 171.45 has formed and has allowed for a temporary stabilisation.

Supports and resistances

174.00

173.45

173.00

172.37 Last

171.45

170.90

170.30

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