EUR/JPY may rise 69 - 102 pips

Our pivot point is at 171.02.

Our preference

The upside prevails as long as 171.02 is support.

Alternative scenario

Below 171.02, expect 170.46 and 170.13.

Comment

The RSI is above its neutrality area at 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 171.20 and 170.95).

Supports and resistances

173.16 **

172.83 *

172.50 **

172.17

171.48 last

171.24

171.02 **

170.46 *

170.13 **

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