USD/JPY may rise 18 - 38 pips

Pivot

157.55

Our preference

Long positions above 157.55 with targets at 158.00 & 158.20 in extension.

Alternative scenario

Below 157.55 look for further downside with 157.25 & 156.90 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

158.40

158.20

158.00

157.82 Last

157.55

157.25

156.90

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