USD/JPY may rise 48 - 83 pips

Pivot

160.60

Our preference

Long positions above 160.60 with targets at 161.40 & 161.75 in extension.

Alternative scenario

Below 160.60 look for further downside with 160.25 & 159.90 as targets.

Comment

The break above 160.60 is a positive signal that has opened a path to 161.40.

Supports and resistances

162.00

161.75

161.40

160.92 Last

160.60

160.25

159.90

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