USD/JPY may rise 52 - 78 pips

160.42 is our pivot point.

Our preference

Our next up target stands at 161.55.

Alternative scenario

Below 160.42, expect 160 and 159.75.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 160.77 and 160.72).

Supports and resistances

162.05 **

161.80 *

161.55 **

161.29

160.77 last

160.58

160.42 **

160.00 *

159.75 **

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