USD/JPY may rise 52 - 87 pips

Pivot

153.40

Our preference

Long positions above 153.40 with targets at 154.35 & 154.70 in extension.

Alternative scenario

Below 153.40 look for further downside with 153.00 & 152.70 as targets.

Comment

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

Supports and resistances

155.00

154.70

154.35

153.83 Last

153.40

153.00

152.70

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