USD/JPY may rise 47 - 97 pips

Pivot

158.00

Our preference

Long positions above 158.00 with targets at 158.90 & 159.40 in extension.

Alternative scenario

Below 158.00 look for further downside with 157.60 & 157.15 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

159.80

159.40

158.90

158.43 Last

158.00

157.60

157.15

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