EUR/JPY may rise 101 - 137 pips

Our pivot point stands at 169.78.

Our preference

As long as 169.78 is support look for 172.28.

Alternative scenario

Below 169.78, expect 169.16 and 168.80.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 170.91 and 170.61).

Supports and resistances

173.02 **

172.65 *

172.28 **

171.92

170.91 last

170.02

169.78 **

169.16 *

168.80 **

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