EUR/JPY may rise 115 - 170 pips

Our pivot point is at 160.18.

Our preference

Rebound towards 162.66.

Alternative scenario

Below 160.18, expect 159.27 and 158.73.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (160.91) but below its 50 period moving average (161.43).

Supports and resistances

163.74 **

163.20 *

162.66 **

162.11

160.96 last

160.54

160.18 **

159.27 *

158.73 **

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