USD/JPY may rise 107 - 160 pips

Our pivot point is at 146.47.

Our preference

The upside prevails as long as 146.47 is support.

Alternative scenario

Below 146.47, expect 145.59 and 145.06.

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 and 146.94).

Supports and resistances

149.85 **

149.32 *

148.80 **

148.27

147.20 last

146.82

146.47 **

145.59 *

145.06 **

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