USD/JPY may rise 78 - 115 pips

Our pivot point is at 155.57.

Our preference

As long as 155.57 is support look for 157.26.

Alternative scenario

Below 155.57, expect 154.94 and 154.56.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (156.13) but above its 50 period moving average (155.55).

Supports and resistances

158.01 **

157.64 *

157.26 **

156.89

156.11 last

155.82

155.57 **

154.94 *

154.56 **

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