EUR/JPY may rise 107 - 157 pips

Our pivot point stands at 155.75.

Our preference

As long as 155.75 is support look for 157.99.

Alternative scenario

The downside breakout of 155.75 would call for 154.91 and 154.41.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (156.50) but above its 50 period moving average (156.13).

Supports and resistances

158.98 **

158.49 *

157.99 **

157.49

156.42 last

156.07

155.75 **

154.91 *

154.41 **

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