EUR/JPY may rise 81 - 119 pips

169.02 is our pivot point.

Our preference

The upside prevails as long as 169.02 is support.

Alternative scenario

Below 169.02, expect 168.37 and 167.99.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 169.39 and 168.83).

Supports and resistances

171.61 **

171.22 *

170.83 **

170.45

169.64 last

169.28

169.02 **

168.37 *

167.99 **

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