USD/JPY may rise 108 - 159 pips

Our pivot point is at 141.13.

Our preference

The upside prevails as long as 141.13 is support.

Alternative scenario

Below 141.13, expect 140.28 and 139.77.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 141.81 and 141.81).

Supports and resistances

144.49 **

143.98 *

143.47 **

142.96

141.88 last

141.47

141.13 **

140.28 *

139.77 **

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