EUR/JPY may fall 67 - 101 pips

171.80 is our pivot point.

Our preference

The downside prevails as long as 171.80 is resistance.

Alternative scenario

Above 171.80, look for 172.36 and 172.69.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 171.40 and 171.39).

Supports and resistances

172.69 **

172.36 *

171.80 **

171.58

171.36 last

170.69

170.35 **

170.02 *

169.69 **

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