USD/JPY may rise 54 - 80 pips

160.50 is our pivot point.

Our preference

Rebound towards 161.67.

Alternative scenario

The downside breakout of 160.50 would call for 160.08 and 159.83.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (160.84) but below its 50 period moving average (160.95).

Supports and resistances

162.17 **

161.92 *

161.67 **

161.41

160.87 last

160.67

160.50 **

160.08 *

159.83 **

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