EUR/JPY may rise 88 - 130 pips

Our pivot point stands at 167.10.

Our preference

The upside prevails as long as 167.10 is support.

Alternative scenario

Below 167.10, expect 166.40 and 165.99.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 167.26 and 166.86).

Supports and resistances

169.83 **

169.41 *

169.00 **

168.58

167.70 last

167.37

167.10 **

166.40 *

165.99 **

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