USD/JPY may rise 24 - 64 pips

Pivot

147.90

Our preference

Long positions above 147.90 with targets at 148.70 & 149.10 in extension.

Alternative scenario

Below 147.90 look for further downside with 147.55 & 147.30 as targets.

Comment

The RSI calls for a new upleg.

Supports and resistances

149.60

149.10

148.70

148.46 Last

147.90

147.55

147.30

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