USD/JPY may rise 43 - 83 pips

Pivot

147.70

Our preference

Long positions above 147.70 with targets at 148.70 & 149.10 in extension.

Alternative scenario

Below 147.70 look for further downside with 147.30 & 147.00 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

149.60

149.10

148.70

148.27 Last

147.70

147.30

147.00

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