EUR/JPY may rise 90 - 135 pips

Our pivot point stands at 162.05.

Our preference

The upside prevails as long as 162.05 is support.

Alternative scenario

Below 162.05, expect 161.30 and 160.85.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 162.52 and 162.45).

Supports and resistances

164.91 **

164.46 *

164.02 **

163.57

162.67 last

162.34

162.05 **

161.30 *

160.85 **

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