USD/JPY may rise 16 - 46 pips

Pivot

160.20

Our preference

Long positions above 160.20 with targets at 160.80 & 161.10 in extension.

Alternative scenario

Below 160.20 look for further downside with 159.85 & 159.60 as targets.

Comment

The immediate trend remains up and the momentum is strong.

Supports and resistances

161.50

161.10

160.80

160.64 Last

160.20

159.85

159.60

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