USD/JPY may rise 92 - 137 pips

148.47 is our pivot point.

Our preference

As long as 148.47 is support look for 150.46.

Alternative scenario

Below 148.47, expect 147.71 and 147.26.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 149.03 and 148.81).

Supports and resistances

151.36 **

150.91 *

150.46 **

150.01

149.09 last

148.76

148.47 **

147.71 *

147.26 **

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