USD/JPY may rise 45 - 65 pips

Pivot

161.30

Our preference

Long positions above 161.30 with targets at 161.90 & 162.10 in extension.

Alternative scenario

Below 161.30 look for further downside with 161.10 & 160.90 as targets.

Comment

A support base at 161.30 has formed and has allowed for a temporary stabilisation.

Supports and resistances

162.30

162.10

161.90

161.45 Last

161.30

161.10

160.90

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