EUR/JPY may rise 80 - 117 pips

167.20 is our pivot point.

Our preference

Rebound towards 169.00.

Alternative scenario

Below 167.20, expect 166.57 and 166.19.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 167.99 and 168.69).

Supports and resistances

169.76 **

169.38 *

169.00 **

168.63

167.83 last

167.45

167.20 **

166.57 *

166.19 **

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