USD/JPY may rise 84 - 119 pips

Our pivot point is at 150.20.

Our preference

Rebound towards 152.01.

Alternative scenario

Below 150.20, expect 149.61 and 149.26.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (150.42) but below its 50 period moving average (151.81).

Supports and resistances

152.72 **

152.37 *

152.01 **

151.66

150.82 last

150.43

150.20 **

149.61 *

149.26 **

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