USD/JPY may rise 28 - 58 pips

Pivot

156.55

Our preference

Long positions above 156.55 with targets at 157.30 & 157.60 in extension.

Alternative scenario

Below 156.55 look for further downside with 156.25 & 155.90 as targets.

Comment

The RSI advocates for further upside.

Supports and resistances

157.85

157.60

157.30

157.02 Last

156.55

156.25

155.90

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