EUR/JPY intraday: below its lower Bollinger band
160.01 is our pivot point.
Our preference: the downside prevails as long as 160.01 is resistance.
Alternative scenario: the upside breakout of 160.01, would call for 160.52 and 160.82.
Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 159.88 and 160.14). Finally, the EUR/JPY has penetrated its lower Bollinger band (159.62).
Supports and resistances:
160.82 **
160.52 *
160.01 **
159.81
159.60 last
158.98
158.68 **
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