EUR/JPY may fall 74 - 110 pips

Our pivot point stands at 170.41.

Our preference

Technical rebound towards 170.41 before a new drop.

Alternative scenario

Above 170.41, look for 171.03 and 171.40.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (169.78) but below its 50 period moving average (169.85).

Supports and resistances

171.40 **

171.03 *

170.41 **

170.17

169.84 last

169.10

168.74 **

168.37 *

168.00 **

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