EUR/JPY may rise 97 - 142 pips

162.42 is our pivot point.

Our preference

The upside prevails as long as 162.42 is support.

Alternative scenario

Below 162.42, expect 161.67 and 161.22.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 162.91 and 162.61).

Supports and resistances

165.36 **

164.91 *

164.46 **

164.01

163.04 last

162.71

162.42 **

161.67 *

161.22 **

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