USD/JPY may rise 105 - 157 pips

Our pivot point stands at 139.77.

Our preference

Our next up target stands at 142.17.

Alternative scenario

Below 139.77, expect 138.90 and 138.38.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 140.08 and 140.42). Finally, the USD/JPY is trading above its upper Bollinger band (standing at 140.56).

Supports and resistances

143.21 **

142.69 *

142.17 **

141.65

140.60 last

140.11

139.77 **

138.90 *

138.38 **

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