USD/JPY may rise 26 - 56 pips

Pivot

158.50

Our preference

Long positions above 158.50 with targets at 159.20 & 159.50 in extension.

Alternative scenario

Below 158.50 look for further downside with 158.20 & 157.90 as targets.

Comment

The break above 158.50 is a positive signal that has opened a path to 159.20.

Supports and resistances

159.75

159.50

159.20

158.94 Last

158.50

158.20

157.90

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