EUR/JPY may rise 90 - 136 pips

Our pivot point is at 162.73.

Our preference

As long as 162.73 is support look for 164.70.

Alternative scenario

Below 162.73, expect 161.97 and 161.51.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (163.39) but above its 50 period moving average (163.26).

Supports and resistances

165.60 **

165.15 *

164.70 **

164.24

163.34 last

163.03

162.73 **

161.97 *

161.51 **

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