USD/JPY may rise 72 - 106 pips

Our pivot point is at 157.28.

Our preference

As long as 157.28 is support look for 158.82.

Alternative scenario

The downside breakout of 157.28 would call for 156.70 and 156.36.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 157.75 and 157.54).

Supports and resistances

159.51 **

159.16 *

158.82 **

158.48

157.76 last

157.51

157.28 **

156.70 *

156.36 **

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