EUR/JPY may rise 119 - 171 pips

Our pivot point stands at 161.36.

Our preference

The upside prevails as long as 161.36 is support.

Alternative scenario

Below 161.36, expect 160.47 and 159.95.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 161.68 and 161.42).

Supports and resistances

164.81 **

164.29 *

163.76 **

163.24

162.05 last

161.70

161.36 **

160.47 *

159.95 **

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