USD/JPY may rise 31 - 66 pips

Pivot

151.50

Our preference

Long positions above 151.50 with targets at 152.40 & 152.75 in extension.

Alternative scenario

Below 151.50 look for further downside with 151.10 & 150.60 as targets.

Comment

The break above 151.50 is a positive signal that has opened a path to 152.40.

Supports and resistances

153.00

152.75

152.40

152.09 Last

151.50

151.10

150.60

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