USD/JPY may rise 123 - 253 pips

Pivot

144.30

Our preference

Long positions above 144.30 with targets at 146.40 & 147.70 in extension.

Alternative scenario

Below 144.30 look for further downside with 143.40 & 142.50 as targets.

Comment

A support base at 144.30 has formed and has allowed for a temporary stabilisation.

Supports and resistances

148.40

147.70

146.40

145.17 Last

144.30

143.40

142.50

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