EUR/JPY may fall 90 - 135 pips

163.21 is our pivot point.

Our preference

Under pressure below 163.21.

Alternative scenario

Above 163.21, look for 163.96 and 164.41.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 162.60 and 162.58).

Supports and resistances

164.41 **

163.96 *

163.21 **

162.92

162.54 last

161.64

161.19 **

160.74 *

160.30 **

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