USD/JPY may rise 70 - 140 pips

Pivot

144.45

Our preference

Long positions above 144.45 with targets at 146.60 & 147.30 in extension.

Alternative scenario

Below 144.45 look for further downside with 143.80 & 143.20 as targets.

Comment

A support base at 144.45 has formed and has allowed for a temporary stabilisation.

Supports and resistances

147.70

147.30

146.60

145.90 Last

144.45

143.80

143.20

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