EUR/JPY may rise 90 - 134 pips

163.78 is our pivot point.

Our preference

The upside prevails as long as 163.78 is support.

Alternative scenario

Below 163.78, expect 163.03 and 162.58.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 164.33 and 164.24).

Supports and resistances

166.61 **

166.16 *

165.71 **

165.27

164.37 last

164.07

163.78 **

163.03 *

162.58 **

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