USD/JPY may rise 76 - 136 pips

Pivot

152.70

Our preference

Long positions above 152.70 with targets at 154.30 & 154.90 in extension.

Alternative scenario

Below 152.70 look for further downside with 151.95 & 151.30 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

155.50

154.90

154.30

153.54 Last

152.70

151.95

151.30

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