USD/JPY may rise 23 - 58 pips

Pivot

156.70

Our preference

Long positions above 156.70 with targets at 157.35 & 157.70 in extension.

Alternative scenario

Below 156.70 look for further downside with 156.35 & 156.05 as targets.

Comment

The RSI calls for a bounce.

Supports and resistances

158.00

157.70

157.35

157.12 Last

156.70

156.35

156.05

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