USD/JPY may rise 92 - 137 pips

147.56 is our pivot point.

Our preference

As long as 147.56 is support look for 149.55.

Alternative scenario

Below 147.56, expect 146.81 and 146.36.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (148.21) but above its 50 period moving average (148.02).

Supports and resistances

150.45 **

150.00 *

149.55 **

149.10

148.18 last

147.86

147.56 **

146.81 *

146.36 **

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