EUR/JPY may rise 116 - 171 pips

160.71 is our pivot point.

Our preference

Rebound towards 163.29.

Alternative scenario

Below 160.71, expect 159.79 and 159.25.

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 161.70 and 162.19).

Supports and resistances

164.38 **

163.83 *

163.29 **

162.74

161.58 last

161.07

160.71 **

159.79 *

159.25 **

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