EUR/JPY may rise 105 - 157 pips

Our pivot point stands at 160.19.

Our preference

The upside prevails as long as 160.19 is support.

Alternative scenario

Below 160.19, expect 159.31 and 158.79.

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 is above its 20 and 50 period moving average (respectively at 160.75 and 160.83).

Supports and resistances

163.52 **

162.99 *

162.47 **

161.95

160.90 last

160.53

160.19 **

159.31 *

158.79 **

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