EUR/JPY may rise 41 - 62 pips.

EUR/JPY may rise 41 - 62 pips.

Our pivot point is at 185.83.

Our preference : The upside prevails as long as 185.83 is support Alternative scenario Below 185.83, expect 185.48 and 185.28.

Comment : The RSI is above 70.

It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case).

The MACD is above its signal line and positive.

The configuration is positive.

Moreover, the price is above its 20 and 50 period moving average (respectively at 185.99 and 185.62).