USD/JPY may rise 92 - 137 pips

Our pivot point is at 148.53.

Our preference

As long as 148.53 is support look for 150.52.

Alternative scenario

The downside breakout of 148.53 would call for 147.77 and 147.32.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 149.09 and 148.84).

Supports and resistances

151.42 **

150.97 *

150.52 **

150.07

149.15 last

148.83

148.53 **

147.77 *

147.32 **

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