USD/JPY may rise 117 - 169 pips

Our pivot point is at 140.01.

Our preference

The upside prevails as long as 140.01 is support.

Alternative scenario

Below 140.01, expect 139.13 and 138.62.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 140.46 and 140.42).

Supports and resistances

143.44 **

142.92 *

142.40 **

141.88

140.71 last

140.35

140.01 **

139.13 *

138.62 **

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