EUR/JPY may fall 106 - 158 pips

Our pivot point stands at 161.75.

Our preference

The downside prevails as long as 161.75 is resistance.

Alternative scenario

Above 161.75, look for 162.63 and 163.15.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 161.49 and 161.47).

Supports and resistances

163.15 **

162.63 *

161.75 **

161.41

161.06 last

160.00

159.48 **

158.96 *

158.44 **

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