EUR/JPY may fall 57 - 85 pips
Our pivot point is at 171.61.
Our preference
The downside prevails as long as 171.61 is resistance.
Alternative scenario
The upside breakout of 171.61, would call for 172.09 and 172.37.
Comment
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 171.16 and 171.22).
Supports and resistances
172.37 **
172.09 *
171.61 **
171.42
171.13 last
170.56
170.28 **
169.99 *
169.71 **
Number of asterisks represents the strength of support and resistance levels.
Our preference
The downside prevails as long as 171.61 is resistance.
Alternative scenario
The upside breakout of 171.61, would call for 172.09 and 172.37.
Comment
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 171.16 and 171.22).
Supports and resistances
172.37 **
172.09 *
171.61 **
171.42
171.13 last
170.56
170.28 **
169.99 *
169.71 **
Number of asterisks represents the strength of support and resistance levels.
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