USD/JPY may rise 35 - 65 pips

Pivot

149.40

Our preference

Long positions above 149.40 with targets at 150.00 & 150.30 in extension.

Alternative scenario

Below 149.40 look for further downside with 149.15 & 148.90 as targets.

Comment

A support base at 149.40 has formed and has allowed for a temporary stabilisation.

Supports and resistances

150.60

150.30

150.00

149.65 Last

149.40

149.15

148.90

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