USD/JPY may rise 119 - 174 pips

Our pivot point stands at 145.46.

Our preference

The upside prevails as long as 145.46 is support.

Alternative scenario

Below 145.46, expect 144.53 and 143.98.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 146.06 and 145.53).

Supports and resistances

149.10 **

148.55 *

147.99 **

147.44

146.25 last

145.83

145.46 **

144.53 *

143.98 **

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