USD/JPY may rise 53 - 88 pips

Pivot

157.10

Our preference

Long positions above 157.10 with targets at 157.90 & 158.25 in extension.

Alternative scenario

Below 157.10 look for further downside with 156.70 & 156.20 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

158.50

158.25

157.90

157.37 Last

157.10

156.70

156.20

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