EUR/JPY may rise 83 - 121 pips

Our pivot point stands at 168.80.

Our preference

Rebound towards 170.56.

Alternative scenario

Below 168.80, expect 168.15 and 167.76.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 169.44 and 169.57).

Supports and resistances

171.33 **

170.95 *

170.56 **

170.18

169.35 last

169.05

168.80 **

168.15 *

167.76 **

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