USD/JPY may rise 16 - 36 pips

Pivot

157.75

Our preference

Long positions above 157.75 with targets at 158.20 & 158.40 in extension.

Alternative scenario

Below 157.75 look for further downside with 157.50 & 157.30 as targets.

Comment

Technically the RSI is above its neutrality area at 50.

Supports and resistances

158.60

158.40

158.20

158.04 Last

157.75

157.50

157.30

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