USD/JPY may rise 16 - 56 pips

Pivot

154.70

Our preference

Long positions above 154.70 with targets at 155.30 & 155.70 in extension.

Alternative scenario

Below 154.70 look for further downside with 154.50 & 154.30 as targets.

Comment

The RSI shows upside momentum.

Supports and resistances

156.00

155.70

155.30

155.14 Last

154.70

154.50

154.30

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