EUR/JPY intraday: look for a drop towards 161.34 before a bounce
Our pivot point is at 161.34.
Our preference: look for a drop towards 161.34 before a bounce.
Alternative scenario: below 161.34, expect 160.92 and 160.68.
Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 161.76 and 161.74).
Supports and resistances:
163.00 **
162.75 *
162.50 **
162.26
161.74 last
161.50
161.34 **
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