EUR/JPY may rise 95 - 140 pips

162.12 is our pivot point.

Our preference

The upside prevails as long as 162.12 is support.

Alternative scenario

Below 162.12, expect 161.37 and 160.92.

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 trading above both its 20 and 50 period moving average (respectively at 162.35 and 162.45).

Supports and resistances

165.02 **

164.58 *

164.13 **

163.68

162.73 last

162.42

162.12 **

161.37 *

160.92 **

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