USD/JPY may rise 14 - 34 pips

Pivot

161.40

Our preference

Long positions above 161.40 with targets at 161.80 & 162.00 in extension.

Alternative scenario

Below 161.40 look for further downside with 161.20 & 161.00 as targets.

Comment

A support base at 161.40 has formed and has allowed for a temporary stabilisation.

Supports and resistances

162.40

162.00

161.80

161.66 Last

161.40

161.20

161.00

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