USD/JPY may rise 23 - 48 pips

Pivot

159.30

Our preference

Long positions above 159.30 with targets at 159.90 & 160.15 in extension.

Alternative scenario

Below 159.30 look for further downside with 159.00 & 158.65 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

160.30

160.15

159.90

159.67 Last

159.30

159.00

158.65

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