EUR/JPY intraday: the upside prevails as long as 172.34 is support
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Our pivot point is at 172.34.
Our preference: the upside prevails as long as 172.34 is support.
Alternative scenario: the downside breakout of 172.34 would call for 171.92 and 171.68.
Comment: the RSI is above 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 172.29 and 172.25).
Supports and resistances:
173.95 **
173.71 *
173.46 **
173.22
172.70 last
172.50
172.34 **
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