EUR/JPY may fall 105 - 153 pips

Our pivot point stands at 161.54.

Our preference

Eye 159.38.

Alternative scenario

Above 161.54, look for 162.34 and 162.81.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (161.03) but above its 50 period moving average (160.88).

Supports and resistances

162.81 **

162.34 *

161.54 **

161.23

160.91 last

159.86

159.38 **

158.91 *

158.44 **

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