EUR/JPY intraday: rebound towards 173.40
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172.26 is our pivot point.
Our preference: rebound towards 173.40.
Alternative scenario: the downside breakout of 172.26 would call for 171.85 and 171.61.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 172.93 and 174.26).
Supports and resistances:
173.89 **
173.64 *
173.40 **
173.15
172.62 last
172.43
172.26 **
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