USD/JPY may rise 76 - 114 pips

Our pivot point is at 155.58.

Our preference

As long as 155.58 is support look for 157.26.

Alternative scenario

The downside breakout of 155.58 would call for 154.95 and 154.57.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 156.11 and 155.72).

Supports and resistances

158.01 **

157.63 *

157.26 **

156.88

156.12 last

155.83

155.58 **

154.95 *

154.57 **

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