USD/JPY may rise 123 - 175 pips

143.13 is our pivot point.

Our preference

As long as 143.13 is support look for 145.56.

Alternative scenario

The downside breakout of 143.13 would call for 142.26 and 141.75.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (143.99) but above its 50 period moving average (143.27).

Supports and resistances

146.59 **

146.07 *

145.56 **

145.04

143.81 last

143.47

143.13 **

142.26 *

141.75 **

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