USD/JPY may rise 32 - 62 pips

Pivot

160.85

Our preference

Long positions above 160.85 with targets at 161.45 & 161.75 in extension.

Alternative scenario

Below 160.85 look for further downside with 160.30 & 159.90 as targets.

Comment

The break above 160.85 is a positive signal that has opened a path to 161.45.

Supports and resistances

162.00

161.75

161.45

161.13 Last

160.85

160.30

159.90

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