USD/JPY may rise 123 - 175 pips

Our pivot point is at 145.80.

Our preference

Rebound.

Alternative scenario

Below 145.80, expect 144.93 and 144.41.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (146.19) but below its 50 period moving average (146.96).

Supports and resistances

149.33 **

148.80 *

148.28 **

147.76

146.53 last

146.15

145.80 **

144.93 *

144.41 **

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