USD/JPY may rise 63 - 93 pips

Pivot

147.25

Our preference

Long positions above 147.25 with targets at 148.20 & 148.50 in extension.

Alternative scenario

Below 147.25 look for further downside with 146.90 & 146.60 as targets.

Comment

The break above 147.25 is a positive signal that has opened a path to 148.20.

Supports and resistances

149.05

148.50

148.20

147.57 Last

147.25

146.90

146.60

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