USD/JPY may rise 90 - 135 pips

Our pivot point stands at 149.16.

Our preference

The upside prevails as long as 149.16 is support.

Alternative scenario

The downside breakout of 149.16 would call for 148.41 and 147.97.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 149.49 and 149.33).

Supports and resistances

152.01 **

151.57 *

151.13 **

150.68

149.78 last

149.45

149.16 **

148.41 *

147.97 **

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