EUR/JPY may rise 81 - 118 pips

170.27 is our pivot point.

Our preference

The upside prevails as long as 170.27 is support.

Alternative scenario

Below 170.27, expect 169.65 and 169.28.

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 170.53 and 170.27).

Supports and resistances

172.68 **

172.32 *

171.95 **

171.58

170.77 last

170.51

170.27 **

169.65 *

169.28 **

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