EUR/JPY may fall 125 - 177 pips

161.90 is our pivot point.

Our preference

Eye 159.44.

Alternative scenario

Above 161.90, look for 162.78 and 163.30.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (161.33) but above its 50 period moving average (161.16).

Supports and resistances

163.30 **

162.78 *

161.90 **

161.55

161.21 last

159.96

159.44 **

158.92 *

158.40 **

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