EUR/JPY may rise 67 - 101 pips

Our pivot point is at 168.34.

Our preference

Rebound.

Alternative scenario

Below 168.34, expect 167.78 and 167.45.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (168.74) but under its 50 period moving average (168.89).

Supports and resistances

170.49 **

170.16 *

169.83 **

169.49

168.82 last

168.56

168.34 **

167.78 *

167.45 **

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