USD/JPY may rise 26 - 56 pips

Pivot

159.85

Our preference

Long positions above 159.85 with targets at 160.50 & 160.80 in extension.

Alternative scenario

Below 159.85 look for further downside with 159.60 & 159.30 as targets.

Comment

The immediate trend remains up and the momentum is strong.

Supports and resistances

161.10

160.80

160.50

160.24 Last

159.85

159.60

159.30

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