USD/JPY may rise 24 - 64 pips

Pivot

159.40

Our preference

Long positions above 159.40 with targets at 160.00 & 160.40 in extension.

Alternative scenario

Below 159.40 look for further downside with 159.00 & 158.65 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

160.60

160.40

160.00

159.76 Last

159.40

159.00

158.65

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