USD/JPY may rise 29 - 79 pips

Pivot

157.95

Our preference

Long positions above 157.95 with targets at 158.90 & 159.40 in extension.

Alternative scenario

Below 157.95 look for further downside with 157.60 & 157.15 as targets.

Comment

The RSI calls for a bounce.

Supports and resistances

159.80

159.40

158.90

158.61 Last

157.95

157.60

157.15

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