EUR/JPY intraday: technical rebound towards 164.18 before a new drop
164.18 is our pivot point.
Our preference: technical rebound towards 164.18 before a new drop.
Alternative scenario: above 164.18, look for 164.63 and 164.90.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (163.70) but below its 50 period moving average (163.75).
Supports and resistances:
164.90 **
164.63 *
164.18 **
164.01
163.73 last
163.19
162.92 **
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