USD/JPY may rise 110 - 162 pips

Our pivot point is at 140.21.

Our preference

Rebound.

Alternative scenario

Below 140.21, expect 139.34 and 138.82.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (140.71) but under its 50 period moving average (141.05).

Supports and resistances

143.57 **

143.05 *

142.53 **

142.01

140.91 last

140.55

140.21 **

139.34 *

138.82 **

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