EUR/JPY may rise 68 - 101 pips

Our pivot point is at 168.23.

Our preference

Rebound towards 169.73.

Alternative scenario

The downside breakout of 168.23 would call for 167.67 and 167.34.

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 (168.69) but under its 50 period moving average (168.98).

Supports and resistances

170.39 **

170.06 *

169.73 **

169.40

168.72 last

168.45

168.23 **

167.67 *

167.34 **

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