USD/JPY may rise 40 - 55 pips

Pivot

159.60

Our preference

Long positions above 159.60 with targets at 160.15 & 160.30 in extension.

Alternative scenario

Below 159.60 look for further downside with 159.30 & 159.00 as targets.

Comment

The break above 159.60 is a positive signal that has opened a path to 160.15.

Supports and resistances

160.45

160.30

160.15

159.75 Last

159.60

159.30

159.00

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