USD/JPY may rise 16 - 46 pips

Pivot

160.70

Our preference

Long positions above 160.70 with targets at 161.25 & 161.55 in extension.

Alternative scenario

Below 160.70 look for further downside with 160.25 & 160.00 as targets.

Comment

The RSI is mixed to bullish.

Supports and resistances

161.90

161.55

161.25

161.09 Last

160.70

160.25

160.00

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