EUR/JPY may rise 92 - 133 pips

Our pivot point stands at 164.75.

Our preference

Rebound towards 166.87.

Alternative scenario

The downside breakout of 164.75 would call for 164.07 and 163.66.

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 (165.30) but below its 50 period moving average (166.38).

Supports and resistances

167.69 **

167.28 *

166.87 **

166.46

165.54 last

165.02

164.75 **

164.07 *

163.66 **

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