EUR/JPY may rise 67 - 100 pips

Our pivot point stands at 168.33.

Our preference

Rebound.

Alternative scenario

Below 168.33, expect 167.77 and 167.44.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (168.75) but under its 50 period moving average (168.94).

Supports and resistances

170.47 **

170.14 *

169.80 **

169.47

168.80 last

168.55

168.33 **

167.77 *

167.44 **

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