USD/JPY may rise 20 - 50 pips

Pivot

158.05

Our preference

Long positions above 158.05 with targets at 158.60 & 158.90 in extension.

Alternative scenario

Below 158.05 look for further downside with 157.85 & 157.65 as targets.

Comment

The RSI is bullish and calls for further advance.

Supports and resistances

159.10

158.90

158.60

158.40 Last

158.05

157.85

157.65

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