USD/JPY may rise 51 - 96 pips

Pivot

157.00

Our preference

Long positions above 157.00 with targets at 158.00 & 158.45 in extension.

Alternative scenario

Below 157.00 look for further downside with 156.50 & 156.10 as targets.

Comment

A support base at 157.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances

158.85

158.45

158.00

157.49 Last

157.00

156.50

156.10

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