EUR/JPY intraday: the upside prevails as long as 160.49 is support
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Our pivot point is at 160.49.
Our preference: the upside prevails as long as 160.49 is support.
Alternative scenario: the downside breakout of 160.49 would call for 159.96 and 159.64.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 160.88 and 160.83).
Supports and resistances:
162.55 **
162.23 *
161.91 **
161.60
160.93 last
160.70
160.49 **
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