USD/JPY may rise 112 - 167 pips

Our pivot point is at 143.73.

Our preference

The upside prevails as long as 143.73 is support.

Alternative scenario

The downside breakout of 143.73 would call for 142.81 and 142.26.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 144.37 and 144.11).

Supports and resistances

147.29 **

146.74 *

146.19 **

145.64

144.52 last

144.09

143.73 **

142.81 *

142.26 **

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