EUR/JPY may fall 100 - 147 pips

Our pivot point stands at 161.41.

Our preference

Target 158.95.

Alternative scenario

Above 161.41, look for 162.21 and 162.68.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (160.73) but above its 50 period moving average (159.92).

Supports and resistances

162.68 **

162.21 *

161.41 **

161.10

160.42 last

159.42

158.95 **

158.48 *

158.00 **

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