USD/JPY may rise 69 - 102 pips

Our pivot point stands at 153.51.

Our preference

As long as 153.51 is support look for 155.

Alternative scenario

The downside breakout of 153.51 would call for 152.95 and 152.62.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 153.93 and 153.76).

Supports and resistances

155.67 **

155.34 *

155.00 **

154.67

153.98 last

153.73

153.51 **

152.95 *

152.62 **

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