USD/JPY may rise 128 - 181 pips

Our pivot point stands at 141.83.

Our preference

Rebound towards 144.40.

Alternative scenario

The downside breakout of 141.83 would call for 140.94 and 140.40.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 142.78 and 143.12).

Supports and resistances

145.47 **

144.94 *

144.40 **

143.87

142.59 last

142.18

141.83 **

140.94 *

140.40 **

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