USD/JPY may rise 42 - 82 pips

Pivot

148.75

Our preference

Long positions above 148.75 with targets at 149.60 & 150.00 in extension.

Alternative scenario

Below 148.75 look for further downside with 148.35 & 148.00 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

151.35

150.00

149.60

149.18 Last

148.75

148.35

148.00

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