EUR/JPY may rise 78 - 116 pips

Our pivot point is at 167.81.

Our preference

Rebound towards 169.56.

Alternative scenario

Below 167.81, expect 167.16 and 166.78.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 168.41 and 169.46).

Supports and resistances

170.33 **

169.95 *

169.56 **

169.18

168.40 last

168.06

167.81 **

167.16 *

166.78 **

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