EUR/JPY may rise 67 - 100 pips

170.95 is our pivot point.

Our preference

As long as 170.95 is support look for 172.39.

Alternative scenario

The downside breakout of 170.95 would call for 170.39 and 170.06.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (171.41) but above its 50 period moving average (171.15).

Supports and resistances

173.05 **

172.72 *

172.39 **

172.06

171.39 last

171.17

170.95 **

170.39 *

170.06 **

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