EUR/JPY ST: the upside prevails as long as 160.83 is support
Our pivot point stands at 160.83.
Our preference: the upside prevails as long as 160.83 is support.
Alternative scenario: the downside breakout of 160.83 would call for 158.04 and 156.38.
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 162.10 and 160.26).
Supports and resistances:
171.69 **
170.02 *
168.36 **
166.69
163.23 last
161.92
160.83 **
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