EUR/JPY may rise 94 - 139 pips

Our pivot point stands at 161.91.

Our preference

Rebound towards 163.91.

Alternative scenario

Below 161.91, expect 161.16 and 160.71.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 162.59 and 162.77).

Supports and resistances

164.80 **

164.36 *

163.91 **

163.46

162.52 last

162.21

161.91 **

161.16 *

160.71 **

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