EUR/JPY may rise to 169.46 - 173.10

Our pivot point is at 156.50.

Our preference

Rebound towards 173.10.

Alternative scenario

The downside breakout of 156.50 would call for 150.41 and 146.79.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 162.28 and 167.65).

Supports and resistances

180.39 **

176.75 *

173.10 **

169.46

161.95 last

158.89

156.50 **

150.41 *

146.79 **

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