EUR/JPY may rise 79 - 117 pips

Our pivot point is at 168.50.

Our preference

The upside prevails as long as 168.50 is support.

Alternative scenario

Below 168.50, expect 167.86 and 167.47.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 168.70 and 168.89).

Supports and resistances

170.96 **

170.58 *

170.19 **

169.81

169.02 last

168.76

168.50 **

167.86 *

167.47 **

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