USD/JPY may rise 78 - 115 pips

Our pivot point stands at 155.75.

Our preference

Rebound towards 157.40.

Alternative scenario

Below 155.75, expect 155.13 and 154.75.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 156.41 and 156.91).

Supports and resistances

158.14 **

157.77 *

157.40 **

157.03

156.25 last

155.99

155.75 **

155.13 *

154.75 **

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