USD/JPY may rise 98 - 144 pips

Our pivot point stands at 147.19.

Our preference

The upside prevails as long as 147.19 is support.

Alternative scenario

Below 147.19, expect 146.41 and 145.95.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 147.51 and 147.08).

Supports and resistances

150.21 **

149.75 *

149.28 **

148.82

147.84 last

147.49

147.19 **

146.41 *

145.95 **

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