USD/JPY may rise 26 - 56 pips

Pivot

157.40

Our preference

Long positions above 157.40 with targets at 157.95 & 158.25 in extension.

Alternative scenario

Below 157.40 look for further downside with 157.10 & 156.85 as targets.

Comment

The RSI is bullish and calls for further upside.

Supports and resistances

158.50

158.25

157.95

157.69 Last

157.40

157.10

156.85

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