USD/JPY may rise 20 - 50 pips

Pivot

156.95

Our preference

Long positions above 156.95 with targets at 157.45 & 157.75 in extension.

Alternative scenario

Below 156.95 look for further downside with 156.50 & 156.15 as targets.

Comment

The break above 156.95 is a positive signal that has opened a path to 157.45.

Supports and resistances

158.15

157.75

157.45

157.25 Last

156.95

156.50

156.15

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