USD/JPY may rise 30 - 70 pips

Pivot

146.70

Our preference

Long positions above 146.70 with targets at 147.50 & 147.90 in extension.

Alternative scenario

Below 146.70 look for further downside with 146.10 & 145.60 as targets.

Comment

A support base at 146.70 has formed and has allowed for a temporary stabilisation.

Supports and resistances

148.40

147.90

147.50

147.20 Last

146.70

146.10

145.60

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