EUR/JPY may fall 140 - 195 pips

162.75 is our pivot point.

Our preference

The downside prevails as long as 162.75 is resistance.

Alternative scenario

Above 162.75, look for 163.67 and 164.21.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 162.41 and 162.29). Finally, the EUR/JPY is trading below its lower Bollinger band (standing at 162.04).

Supports and resistances

164.21 **

163.67 *

162.75 **

162.39

161.99 last

160.59

160.04 **

159.49 *

158.95 **

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