EUR/JPY may rise 96 - 136 pips

Our pivot point stands at 161.48.

Our preference

Rebound towards 163.54.

Alternative scenario

Below 161.48, expect 160.81 and 160.41.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 162.76 and 164.04). Finally, the EUR/JPY is trading below its lower Bollinger band (standing at 162.25).

Supports and resistances

164.35 **

163.95 *

163.54 **

163.14

162.18 last

161.75

161.48 **

160.81 *

160.41 **

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