USD/JPY may rise 88 - 158 pips

Pivot

145.75

Our preference

Long positions above 145.75 with targets at 147.30 & 148.00 in extension.

Alternative scenario

Below 145.75 look for further downside with 145.15 & 144.70 as targets.

Comment

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

Supports and resistances

148.25

148.00

147.30

146.42 Last

145.75

145.15

144.70

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