USD/JPY may rise 125 - 179 pips

143.91 is our pivot point.

Our preference

The upside prevails as long as 143.91 is support.

Alternative scenario

The downside breakout of 143.91 would call for 142.99 and 142.45.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 144.53 and 144.32).

Supports and resistances

147.53 **

146.98 *

146.43 **

145.89

144.64 last

144.27

143.91 **

142.99 *

142.45 **

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