USD/JPY may rise 96 - 142 pips

146.56 is our pivot point.

Our preference

As long as 146.56 is support look for 148.74.

Alternative scenario

Below 146.56, expect 145.79 and 145.32.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 147.21 and 146.33).

Supports and resistances

149.67 **

149.21 *

148.74 **

148.28

147.32 last

146.87

146.56 **

145.79 *

145.32 **

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