EUR/JPY may fall 69 - 102 pips

Our pivot point stands at 169.01.

Our preference

Technical rebound towards 169.01 before a new drop.

Alternative scenario

The upside breakout of 169.01, would call for 169.57 and 169.90.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (168.46) but under its 50 period moving average (168.57).

Supports and resistances

169.90 **

169.57 *

169.01 **

168.79

168.54 last

167.85

167.52 **

167.19 *

166.85 **

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