USD/JPY may rise 25 - 55 pips

Pivot

161.25

Our preference

Long positions above 161.25 with targets at 161.90 & 162.20 in extension.

Alternative scenario

Below 161.25 look for further downside with 160.90 & 160.70 as targets.

Comment

The break above the resistance at 161.25 triggered an upward acceleration to 161.90.

Supports and resistances

162.50

162.20

161.90

161.65 Last

161.25

160.90

160.70

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