EUR/JPY may fall to 147.47 - 150.95

Our pivot point stands at 163.25.

Our preference

The downside prevails as long as 163.25 is resistance.

Alternative scenario

The upside breakout of 163.25, would call for 169.11 and 172.61.

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 160.95 and 166.12).

Supports and resistances

172.61 **

169.11 *

163.25 **

160.94

158.57 last

150.95

147.47 **

143.99 *

140.52 **

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