USD/JPY may rise 71 - 105 pips

Our pivot point stands at 153.20.

Our preference

Rebound towards 154.71.

Alternative scenario

Below 153.20, expect 152.64 and 152.30.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 153.99 and 154.79).

Supports and resistances

155.38 **

155.04 *

154.71 **

154.37

153.66 last

153.42

153.20 **

152.64 *

152.30 **

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