EUR/JPY may rise 92 - 133 pips

167.11 is our pivot point.

Our preference

The upside prevails as long as 167.11 is support.

Alternative scenario

The downside breakout of 167.11 would call for 166.41 and 166.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 167.20 and 166.83).

Supports and resistances

169.89 **

169.48 *

169.06 **

168.65

167.73 last

167.38

167.11 **

166.41 *

166.00 **

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