USD/JPY may rise 31 - 81 pips

Pivot

157.40

Our preference

Long positions above 157.40 with targets at 158.40 & 158.90 in extension.

Alternative scenario

Below 157.40 look for further downside with 157.10 & 156.70 as targets.

Comment

The RSI calls for a bounce.

Supports and resistances

159.40

158.90

158.40

158.09 Last

157.40

157.10

156.70

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