EUR/JPY may rise 84 - 122 pips

Our pivot point is at 168.52.

Our preference

Rebound towards 170.37.

Alternative scenario

Below 168.52, expect 167.87 and 167.49.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (169.14) but under its 50 period moving average (169.32).

Supports and resistances

171.14 **

170.76 *

170.37 **

169.99

169.15 last

168.77

168.52 **

167.87 *

167.49 **

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