EUR/JPY may fall to 161.71 - 164.34

174.41 is our pivot point.

Our preference

Under pressure below 174.41.

Alternative scenario

The upside breakout of 174.41, would call for 178.87 and 181.53.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 171.98 and 169.97).

Supports and resistances

181.53 **

178.87 *

174.41 **

172.65

169.71 last

164.34

161.71 **

159.07 *

156.43 **

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