USD/JPY may rise 52 - 82 pips

Pivot

156.65

Our preference

Long positions above 156.65 with targets at 157.45 & 157.75 in extension.

Alternative scenario

Below 156.65 look for further downside with 156.40 & 156.10 as targets.

Comment

The break above 156.65 is a positive signal that has opened a path to 157.45.

Supports and resistances

158.00

157.75

157.45

156.93 Last

156.65

156.40

156.10

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