USD/JPY may rise 113 - 183 pips

Pivot

153.10

Our preference

Long positions above 153.10 with targets at 154.70 & 155.40 in extension.

Alternative scenario

Below 153.10 look for further downside with 152.50 & 151.95 as targets.

Comment

A support base at 153.10 has formed and has allowed for a temporary stabilisation.

Supports and resistances

155.90

155.40

154.70

153.57 Last

153.10

152.50

151.95

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