EUR/JPY may rise to 170.83 - 174.65

Our pivot point is at 156.70.

Our preference

Rebound towards 174.65.

Alternative scenario

Below 156.70, expect 150.34 and 146.56.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 163.94 and 168.22).

Supports and resistances

182.28 **

178.46 *

174.65 **

170.83

162.25 last

159.20

156.70 **

150.34 *

146.56 **

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