EUR/JPY may rise 80 - 118 pips

167.94 is our pivot point.

Our preference

Rebound towards 169.66.

Alternative scenario

Below 167.94, expect 167.29 and 166.91.

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 stands above its 20 period moving average (168.42) but below its 50 period moving average (169.17).

Supports and resistances

170.43 **

170.05 *

169.66 **

169.28

168.48 last

168.19

167.94 **

167.29 *

166.91 **

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