EUR/JPY may rise 50 - 74 pips

Our pivot point is at 171.78.

Our preference

Rebound towards 172.92.

Alternative scenario

Below 171.78, expect 171.37 and 171.12.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (172.15) but under its 50 period moving average (172.39).

Supports and resistances

173.41 **

173.17 *

172.92 **

172.68

172.18 last

171.94

171.78 **

171.37 *

171.12 **

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