EUR/JPY may rise 100 - 150 pips

155.31 is our pivot point.

Our preference

Rebound towards 157.47.

Alternative scenario

Below 155.31, expect 154.48 and 153.99.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 155.99 and 156.19).

Supports and resistances

158.46 **

157.96 *

157.47 **

156.97

155.97 last

155.64

155.31 **

154.48 *

153.99 **

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