EUR/JPY may fall to 149.87 - 153.48

Our pivot point stands at 166.59.

Our preference

The downside prevails as long as 166.59 is resistance.

Alternative scenario

Above 166.59, look for 172.69 and 176.32.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 166.04 and 168.77).

Supports and resistances

176.32 **

172.69 *

166.59 **

164.19

161.37 last

153.48

149.87 **

146.27 *

142.66 **

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