EUR/JPY may fall 96 - 143 pips

Our pivot point is at 160.72.

Our preference

The downside prevails as long as 160.72 is resistance.

Alternative scenario

The upside breakout of 160.72, would call for 161.51 and 161.98.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 160.35 and 160.59).

Supports and resistances

161.98 **

161.51 *

160.72 **

160.41

160.09 last

159.13

158.66 **

158.19 *

157.72 **

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