USD/JPY may rise 28 - 58 pips

Pivot

149.35

Our preference

Long positions above 149.35 with targets at 150.00 & 150.30 in extension.

Alternative scenario

Below 149.35 look for further downside with 149.15 & 148.85 as targets.

Comment

A support base at 149.35 has formed and has allowed for a temporary stabilisation.

Supports and resistances

150.50

150.30

150.00

149.72 Last

149.35

149.15

148.85

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