EUR/JPY may fall 42 - 67 pips

Pivot

163.05

Our preference

Short positions below 163.05 with targets at 162.15 & 161.90 in extension.

Alternative scenario

Above 163.05 look for further upside with 163.30 & 163.60 as targets.

Comment

As long as the resistance at 163.05 is not surpassed, the risk of the break below 162.15 remains high.

Supports and resistances

163.60

163.30

163.05

162.57 Last

162.15

161.90

161.50

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