EUR/JPY may fall 99 - 145 pips

Our pivot point stands at 158.84.

Our preference

The downside prevails as long as 158.84 is resistance.

Alternative scenario

Above 158.84, look for 159.63 and 160.09.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 158.26 and 158.56).

Supports and resistances

160.09 **

159.63 *

158.84 **

158.54

157.79 last

156.80

156.34 **

155.87 *

155.41 **

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