EUR/JPY may fall 79 - 113 pips

Our pivot point is at 169.03.

Our preference

The downside prevails as long as 169.03 is resistance.

Alternative scenario

Above 169.03, look for 169.59 and 169.92.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 169.30 and 169.44).

Supports and resistances

169.92 **

169.59 *

169.03 **

168.81

168.59 last

167.80

167.46 **

167.13 *

166.80 **

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