USD/JPY may rise 62 - 97 pips

Pivot

151.10

Our preference

Long positions above 151.10 with targets at 152.40 & 152.75 in extension.

Alternative scenario

Below 151.10 look for further downside with 150.60 & 150.20 as targets.

Comment

The RSI calls for a new upleg.

Supports and resistances

153.00

152.75

152.40

151.78 Last

151.10

150.60

150.20

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