USD/JPY may rise 78 - 111 pips

Our pivot point is at 153.45.

Our preference

The upside prevails as long as 153.45 is support.

Alternative scenario

Below 153.45, expect 152.89 and 152.56.

Comment

The RSI is above its neutrality area at 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 153.76 and 153.72).

Supports and resistances

155.72 **

155.39 *

155.05 **

154.72

153.94 last

153.67

153.45 **

152.89 *

152.56 **

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