USD/JPY may rise 33 - 58 pips

Pivot

156.40

Our preference

Long positions above 156.40 with targets at 157.20 & 157.45 in extension.

Alternative scenario

Below 156.40 look for further downside with 156.10 & 155.80 as targets.

Comment

The RSI calls for a new upleg.

Supports and resistances

157.75

157.45

157.20

156.87 Last

156.40

156.10

155.80

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