USD/JPY may rise 111 - 163 pips

Our pivot point stands at 140.08.

Our preference

Rebound.

Alternative scenario

Below 140.08, expect 139.21 and 138.69.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (140.68) but below its 50 period moving average (141.17).

Supports and resistances

143.54 **

143.02 *

142.50 **

141.98

140.87 last

140.42

140.08 **

139.21 *

138.69 **

Number of asterisks represents the strength of support and resistance levels.