USD/JPY may rise 45 - 68 pips

161.46 is our pivot point.

Our preference

The upside prevails as long as 161.46 is support.

Alternative scenario

Below 161.46, expect 161.08 and 160.85.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 161.64 and 161.50).

Supports and resistances

162.89 **

162.66 *

162.44 **

162.21

161.76 last

161.61

161.46 **

161.08 *

160.85 **

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