USD/JPY may rise 102 - 148 pips

Our pivot point is at 146.58.

Our preference

The upside prevails as long as 146.58 is support.

Alternative scenario

The downside breakout of 146.58 would call for 145.81 and 145.35.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 146.72 and 146.55).

Supports and resistances

149.73 **

149.27 *

148.81 **

148.35

147.33 last

146.89

146.58 **

145.81 *

145.35 **

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