USD/JPY may rise 74 - 107 pips

153.35 is our pivot point.

Our preference

The upside prevails as long as 153.35 is support.

Alternative scenario

Below 153.35, expect 152.79 and 152.46.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 153.51 and 153.24).

Supports and resistances

155.58 **

155.24 *

154.91 **

154.58

153.84 last

153.57

153.35 **

152.79 *

152.46 **

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