EUR/JPY may rise 76 - 112 pips

Our pivot point stands at 168.91.

Our preference

The upside prevails as long as 168.91 is support.

Alternative scenario

Below 168.91, expect 168.30 and 167.94.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 169.29 and 169.22).

Supports and resistances

171.32 **

170.96 *

170.59 **

170.23

169.47 last

169.15

168.91 **

168.30 *

167.94 **

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