EUR/JPY may rise 96 - 144 pips

Our pivot point stands at 159.89.

Our preference

As long as 159.89 is support look for 162.19.

Alternative scenario

Below 159.89, expect 159.10 and 158.63.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (160.77) but above its 50 period moving average (160.32).

Supports and resistances

163.13 **

162.66 *

162.19 **

161.71

160.75 last

160.21

159.89 **

159.10 *

158.63 **

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