USD/JPY may rise 16 - 36 pips

Pivot

161.60

Our preference

Long positions above 161.60 with targets at 162.00 & 162.20 in extension.

Alternative scenario

Below 161.60 look for further downside with 161.35 & 161.15 as targets.

Comment

The break above 161.60 is a positive signal that has opened a path to 162.00.

Supports and resistances

162.50

162.20

162.00

161.84 Last

161.60

161.35

161.15

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