USD/JPY may rise 98 - 144 pips

Our pivot point is at 146.48.

Our preference

As long as 146.48 is support look for 148.57.

Alternative scenario

Below 146.48, expect 145.70 and 145.24.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 146.94 and 146.57).

Supports and resistances

149.49 **

149.03 *

148.57 **

148.11

147.13 last

146.78

146.48 **

145.70 *

145.24 **

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