EUR/JPY may fall 94 - 139 pips

Our pivot point stands at 165.05.

Our preference

The downside prevails as long as 165.05 is resistance.

Alternative scenario

Above 165.05, look for 165.80 and 166.25.

Comment

The RSI is below 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 164.59 and 164.56).

Supports and resistances

166.25 **

165.80 *

165.05 **

164.76

164.41 last

163.47

163.02 **

162.58 *

162.13 **

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