|EUR/JPY intraday: the downside prevails as long as 126.58 is resistance|
|Our pivot point is at 126.58.
Most likely scenario: the downside prevails as long as 126.58 is resistance.
Alternative scenario: the upside breakout of 126.58, would call for 126.96 and 127.18.
Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 126.29 and 126.38).