EUR/JPY may rise 90 - 128 pips

168.73 is our pivot point.

Our preference

The upside prevails as long as 168.73 is support.

Alternative scenario

The downside breakout of 168.73 would call for 168.08 and 167.69.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 168.84 and 168.83).

Supports and resistances

171.29 **

170.91 *

170.52 **

170.14

169.24 last

168.98

168.73 **

168.08 *

167.69 **

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