EUR/JPY intraday: target 157.24
Our pivot point is at 158.55.
Our preference: target 157.24.
Alternative scenario: above 158.55, look for 159.02 and 159.29.
Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (158.32) but above its 50 period moving average (158).
Supports and resistances:
159.29 **
159.02 *
158.55 **
158.37
158.12 last
157.51
157.24 **
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