EUR/JPY may rise 69 - 102 pips

Our pivot point is at 172.14.

Our preference

As long as 172.14 is support look for 173.68.

Alternative scenario

Below 172.14, expect 171.58 and 171.25.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (172.73) but above its 50 period moving average (172.45).

Supports and resistances

174.35 **

174.01 *

173.68 **

173.35

172.66 last

172.36

172.14 **

171.58 *

171.25 **

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