EUR/JPY may fall 90 - 134 pips

Our pivot point is at 163.08.

Our preference

The downside prevails as long as 163.08 is resistance.

Alternative scenario

Above 163.08, look for 163.83 and 164.27.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 162.53 and 162.56).

Supports and resistances

164.27 **

163.83 *

163.08 **

162.78

162.42 last

161.52

161.08 **

160.63 *

160.19 **

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