EUR/JPY may rise 81 - 119 pips

Our pivot point stands at 168.49.

Our preference

The upside prevails as long as 168.49 is support.

Alternative scenario

The downside breakout of 168.49 would call for 167.84 and 167.45.

Comment

The RSI is above 50. The MACD is positive and above its signal line. 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

169.00 last

168.74

168.49 **

167.84 *

167.45 **

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