USD/JPY may rise 75 - 112 pips

Our pivot point is at 154.21.

Our preference

Rebound towards 155.86.

Alternative scenario

Below 154.21, expect 153.58 and 153.21.

Comment

The RSI is below its neutrality area at 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 154.87 and 155.60).

Supports and resistances

156.61 **

156.23 *

155.86 **

155.49

154.74 last

154.45

154.21 **

153.58 *

153.21 **

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