USD/JPY may rise 22 - 37 pips

Pivot

157.05

Our preference

Long positions above 157.05 with targets at 157.60 & 157.75 in extension.

Alternative scenario

Below 157.05 look for further downside with 156.85 & 156.55 as targets.

Comment

The RSI calls for a new upleg.

Supports and resistances

158.00

157.75

157.60

157.38 Last

157.05

156.85

156.55

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