EUR/JPY may rise 109 - 158 pips

Our pivot point is at 155.17.

Our preference

Our next up target stands at 157.49.

Alternative scenario

Below 155.17, expect 154.34 and 153.85.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 155.65 and 155.86).

Supports and resistances

158.49 **

157.99 *

157.49 **

157.00

155.91 last

155.50

155.17 **

154.34 *

153.85 **

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