USD/JPY may rise 30 - 65 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

A support base at 157.10 has formed and has allowed for a temporary stabilisation.

Supports and resistances

158.50

158.25

157.90

157.60 Last

157.10

156.70

156.20

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