USD/JPY may rise 23 - 53 pips

Pivot

160.65

Our preference

Long positions above 160.65 with targets at 161.25 & 161.55 in extension.

Alternative scenario

Below 160.65 look for further downside with 160.25 & 160.00 as targets.

Comment

The RSI is mixed with a bullish bias.

Supports and resistances

161.90

161.55

161.25

161.02 Last

160.65

160.25

160.00

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