EUR/JPY may rise 91 - 135 pips

Our pivot point is at 162.11.

Our preference

Rebound towards 164.08.

Alternative scenario

Below 162.11, expect 161.36 and 160.91.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (162.68) but under its 50 period moving average (162.99).

Supports and resistances

164.98 **

164.53 *

164.08 **

163.64

162.73 last

162.41

162.11 **

161.36 *

160.91 **

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