USD/JPY may rise 84 - 119 pips

Our pivot point stands at 149.14.

Our preference

Rebound towards 151.05.

Alternative scenario

Below 149.14, expect 148.55 and 148.20.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 150.34 and 151.57).

Supports and resistances

151.75 **

151.40 *

151.05 **

150.70

149.86 last

149.37

149.14 **

148.55 *

148.20 **

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