USD/JPY may rise 20 - 50 pips

Pivot

158.55

Our preference

Long positions above 158.55 with targets at 159.20 & 159.50 in extension.

Alternative scenario

Below 158.55 look for further downside with 158.20 & 157.90 as targets.

Comment

The next resistances are at 159.20 and then at 159.50.

Supports and resistances

159.75

159.50

159.20

159.00 Last

158.55

158.20

157.90

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