EUR/JPY may rise 86 - 125 pips

158.52 is our pivot point.

Our preference

The upside prevails as long as 158.52 is support.

Alternative scenario

Below 158.52, expect 157.86 and 157.47.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 158.62 and 157.41).

Supports and resistances

161.33 **

160.94 *

160.54 **

160.15

159.29 last

158.78

158.52 **

157.86 *

157.47 **

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