EUR/JPY may rise 62 - 90 pips

Our pivot point stands at 171.28.

Our preference

The upside prevails as long as 171.28 is support.

Alternative scenario

Below 171.28, expect 170.80 and 170.51.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 171.49 and 171.24).

Supports and resistances

173.15 **

172.87 *

172.58 **

172.30

171.68 last

171.47

171.28 **

170.80 *

170.51 **

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