USD/JPY may rise 63 - 118 pips

Pivot

153.40

Our preference

Long positions above 153.40 with targets at 154.70 & 155.25 in extension.

Alternative scenario

Below 153.40 look for further downside with 153.00 & 152.50 as targets.

Comment

The RSI calls for a new upleg.

Supports and resistances

155.85

155.25

154.70

154.07 Last

153.40

153.00

152.50

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