USD/JPY may rise 23 - 53 pips

Pivot

156.90

Our preference

Long positions above 156.90 with targets at 157.45 & 157.75 in extension.

Alternative scenario

Below 156.90 look for further downside with 156.55 & 156.40 as targets.

Comment

The break above the resistance at 156.90 triggered an upward acceleration to 157.45.

Supports and resistances

158.00

157.75

157.45

157.22 Last

156.90

156.55

156.40

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