EUR/JPY may fall 92 - 137 pips

163.24 is our pivot point.

Our preference

Target 161.24.

Alternative scenario

Above 163.24, look for 164 and 164.45.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (162.67) but above its 50 period moving average (162.59).

Supports and resistances

164.45 **

164.00 *

163.24 **

162.95

162.61 last

161.69

161.24 **

160.79 *

160.34 **

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