USD/JPY may rise 93 - 138 pips

Our pivot point stands at 151.23.

Our preference

Rebound towards 153.22.

Alternative scenario

The downside breakout of 151.23 would call for 150.47 and 150.01.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 151.89 and 152.20).

Supports and resistances

154.13 **

153.67 *

153.22 **

152.77

151.84 last

151.53

151.23 **

150.47 *

150.01 **

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