EUR/JPY may rise 80 - 118 pips

Our pivot point is at 169.18.

Our preference

As long as 169.18 is support look for 170.90.

Alternative scenario

Below 169.18, expect 168.53 and 168.14.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 169.71 and 169.35).

Supports and resistances

171.68 **

171.29 *

170.90 **

170.52

169.72 last

169.43

169.18 **

168.53 *

168.14 **

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