USD/JPY may rise 29 - 49 pips

Pivot

161.10

Our preference

Long positions above 161.10 with targets at 161.70 & 161.90 in extension.

Alternative scenario

Below 161.10 look for further downside with 160.90 & 160.70 as targets.

Comment

The next resistances are at 161.70 and then at 161.90.

Supports and resistances

171.25

161.90

161.70

161.41 Last

161.10

160.90

160.70

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