USD/JPY may rise to 165.40 - 168.00

Pivot

157.20

Our preference

Long positions above 157.20 with targets at 165.40 & 168.00 in extension.

Alternative scenario

Below 157.20 look for further downside with 154.50 & 152.70 as targets.

Comment

The immediate trend remains up and the momentum is strong.

Supports and resistances

170.00

168.00

165.40

161.84 Last

157.20

154.50

152.70

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