USD/JPY may rise 54 - 79 pips

Pivot

156.80

Our preference

Long positions above 156.80 with targets at 157.75 & 158.00 in extension.

Alternative scenario

Below 156.80 look for further downside with 156.40 & 155.90 as targets.

Comment

A support base at 156.80 has formed and has allowed for a temporary stabilisation.

Supports and resistances

158.50

158.00

157.75

157.21 Last

156.80

156.40

155.90

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