USD/JPY may rise 111 - 166 pips

143.96 is our pivot point.

Our preference

As long as 143.96 is support look for 146.36.

Alternative scenario

The downside breakout of 143.96 would call for 143.04 and 142.50.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 144.61 and 144.37).

Supports and resistances

147.45 **

146.91 *

146.36 **

145.81

144.70 last

144.32

143.96 **

143.04 *

142.50 **

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