EUR/JPY may rise 74 - 111 pips

169.41 is our pivot point.

Our preference

Rebound towards 171.10.

Alternative scenario

The downside breakout of 169.41 would call for 168.79 and 168.42.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 170.01 and 170.38).

Supports and resistances

171.84 **

171.47 *

171.10 **

170.73

169.99 last

169.66

169.41 **

168.79 *

168.42 **

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