USD/JPY may rise 68 - 101 pips

Our pivot point stands at 153.46.

Our preference

As long as 153.46 is support look for 154.95.

Alternative scenario

Below 153.46, expect 152.90 and 152.57.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 153.89 and 153.75).

Supports and resistances

155.62 **

155.29 *

154.95 **

154.62

153.94 last

153.68

153.46 **

152.90 *

152.57 **

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