EUR/JPY may rise to 169.19 - 172.26

ST: the upside prevails as long as 158.78 is support

Our pivot point is at 158.78.

Our preference

The upside prevails as long as 158.78 is support.

Alternative scenario

Below 158.78, expect 153.64 and 150.59.

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 161.56 and 160.95).

Supports and resistances

178.38 **

175.32 *

172.26 **

169.19

163.01 last

160.80

158.78 **

153.64 *

150.59 **

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

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