EUR/JPY may rise 90 - 135 pips

Our pivot point stands at 162.40.

Our preference

As long as 162.40 is support look for 164.34.

Alternative scenario

Below 162.40, expect 161.64 and 161.20.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 162.96 and 162.65).

Supports and resistances

165.23 **

164.79 *

164.34 **

163.89

162.99 last

162.69

162.40 **

161.64 *

161.20 **

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