USD/JPY may rise 95 - 140 pips

Our pivot point is at 147.61.

Our preference

The upside prevails as long as 147.61 is support.

Alternative scenario

The downside breakout of 147.61 would call for 146.86 and 146.41.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 147.93 and 147.98).

Supports and resistances

150.55 **

150.10 *

149.65 **

149.20

148.25 last

147.91

147.61 **

146.86 *

146.41 **

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