EUR/JPY may fall 90 - 134 pips

163.75 is our pivot point.

Our preference

The downside prevails as long as 163.75 is resistance.

Alternative scenario

Above 163.75, look for 164.50 and 164.94.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 163.16 and 163.18).

Supports and resistances

164.94 **

164.50 *

163.75 **

163.46

163.11 last

162.21

161.77 **

161.33 *

160.88 **

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