USD/JPY may rise 25 - 55 pips

Pivot

156.75

Our preference

Long positions above 156.75 with targets at 157.45 & 157.75 in extension.

Alternative scenario

Below 156.75 look for further downside with 156.40 & 156.10 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

158.00

157.75

157.45

157.20 Last

156.75

156.40

156.10

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