EUR/JPY may rise 118 - 170 pips

Our pivot point stands at 160.66.

Our preference

As long as 160.66 is support look for 163.09.

Alternative scenario

Below 160.66, expect 159.79 and 159.26.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 161.38 and 161.19).

Supports and resistances

164.14 **

163.61 *

163.09 **

162.57

161.39 last

161.01

160.66 **

159.79 *

159.26 **

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