EUR/JPY may rise to 174.05 - 176.36

Our pivot point is at 165.96.

Our preference

As long as 165.96 is support look for 176.36.

Alternative scenario

The downside breakout of 165.96 would call for 162.09 and 159.78.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (169.61) but above its 50 period moving average (167.27).

Supports and resistances

180.99 **

178.67 *

176.36 **

174.05

169.33 last

167.48

165.96 **

162.09 *

159.78 **

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