USD/JPY may rise 31 - 51 pips

Pivot

161.10

Our preference

Long positions above 161.10 with targets at 161.80 & 162.00 in extension.

Alternative scenario

Below 161.10 look for further downside with 160.75 & 160.50 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

162.25

162.00

161.80

161.49 Last

161.10

160.75

160.50

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