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 156.90 is a positive signal that has opened a path 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.