EUR/JPY may rise 113 - 167 pips
Our pivot point stands at 162.99.
Our preference
As long as 162.99 is support look for 165.37.
Alternative scenario
The downside breakout of 162.99 would call for 162.09 and 161.56.
Comment
The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 163.63 and 162.81).
Supports and resistances
166.43 **
165.90 *
165.37 **
164.83
163.70 last
163.34
162.99 **
162.09 *
161.56 **
Number of asterisks represents the strength of support and resistance levels.
Our preference
As long as 162.99 is support look for 165.37.
Alternative scenario
The downside breakout of 162.99 would call for 162.09 and 161.56.
Comment
The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 163.63 and 162.81).
Supports and resistances
166.43 **
165.90 *
165.37 **
164.83
163.70 last
163.34
162.99 **
162.09 *
161.56 **
Number of asterisks represents the strength of support and resistance levels.
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