EUR/JPY may rise 78 - 115 pips

Our pivot point is at 166.86.

Our preference

The upside prevails as long as 166.86 is support.

Alternative scenario

Below 166.86, expect 166.22 and 165.85.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 167.03 and 166.78).

Supports and resistances

169.35 **

168.98 *

168.60 **

168.23

167.45 last

167.10

166.86 **

166.22 *

165.85 **

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