EUR/JPY may rise 77 - 114 pips

Our pivot point stands at 166.01.

Our preference

Rebound towards 167.80.

Alternative scenario

Below 166.01, expect 165.38 and 165.01.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (166.64) but below its 50 period moving average (166.96).

Supports and resistances

168.55 **

168.18 *

167.80 **

167.43

166.66 last

166.25

166.01 **

165.38 *

165.01 **

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