EUR/JPY may fall 101 - 151 pips

Our pivot point stands at 157.78.

Our preference

Under pressure below 157.78.

Alternative scenario

The upside breakout of 157.78, would call for 158.62 and 159.12.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 157.11 and 157.06).

Supports and resistances

159.12 **

158.62 *

157.78 **

157.45

157.01 last

156.00

155.50 **

155.00 *

154.50 **

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