USD/JPY may rise 24 - 39 pips

Pivot

157.00

Our preference

Long positions above 157.00 with targets at 157.40 & 157.55 in extension.

Alternative scenario

Below 157.00 look for further downside with 156.80 & 156.60 as targets.

Comment

A support base at 157.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances

157.80

157.55

157.40

157.16 Last

157.00

156.80

156.60

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