EUR/JPY may rise 86 - 127 pips

Our pivot point is at 161.42.

Our preference

Rebound towards 163.24.

Alternative scenario

The downside breakout of 161.42 would call for 160.75 and 160.34.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (161.85) but under its 50 period moving average (162.30).

Supports and resistances

164.04 **

163.64 *

163.24 **

162.83

161.97 last

161.68

161.42 **

160.75 *

160.34 **

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