EUR/JPY may fall 66 - 99 pips

171.25 is our pivot point.

Our preference

The downside prevails as long as 171.25 is resistance.

Alternative scenario

Above 171.25, look for 171.81 and 172.14.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 170.96 and 171.23).

Supports and resistances

172.14 **

171.81 *

171.25 **

171.04

170.68 last

170.02

169.69 **

169.36 *

169.03 **

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