EUR/JPY intraday: rebound
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172.18 is our pivot point.
Our preference: rebound.
Alternative scenario: below 172.18, expect 171.77 and 171.52.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (172.64) but under its 50 period moving average (173.75).
Supports and resistances:
174.37 **
174.13 *
173.88 **
173.64
173.08 last
172.34
172.18 **
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