EUR/JPY may rise 67 - 100 pips

Our pivot point stands at 171.14.

Our preference

The upside prevails as long as 171.14 is support.

Alternative scenario

The downside breakout of 171.14 would call for 170.59 and 170.25.

Comment

The RSI is above 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 171.43 and 171.41).

Supports and resistances

173.27 **

172.94 *

172.61 **

172.28

171.61 last

171.36

171.14 **

170.59 *

170.25 **

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