EUR/JPY may rise 100 - 150 pips

Our pivot point stands at 155.49.

Our preference

Rebound.

Alternative scenario

Below 155.49, expect 154.66 and 154.16.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (156.02) but below its 50 period moving average (156.32).

Supports and resistances

158.65 **

158.15 *

157.66 **

157.16

156.16 last

155.82

155.49 **

154.66 *

154.16 **

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