EUR/JPY may fall 79 - 112 pips

169.57 is our pivot point.

Our preference

Eye 167.99.

Alternative scenario

The upside breakout of 169.57, would call for 170.13 and 170.46.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is below its 20 period moving average (169.20) but above its 50 period moving average (169.03).

Supports and resistances

170.46 **

170.13 *

169.57 **

169.35

169.11 last

168.32

167.99 **

167.66 *

167.32 **

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