USD/JPY may rise 19 - 34 pips

Pivot

157.30

Our preference

Long positions above 157.30 with targets at 157.60 & 157.75 in extension.

Alternative scenario

Below 157.30 look for further downside with 157.15 & 157.00 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

158.00

157.75

157.60

157.41 Last

157.30

157.15

157.00

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