USD/JPY may rise 50 - 85 pips

Pivot

160.55

Our preference

Long positions above 160.55 with targets at 161.50 & 161.85 in extension.

Alternative scenario

Below 160.55 look for further downside with 160.30 & 160.00 as targets.

Comment

The break above 160.55 is a positive signal that has opened a path to 161.50.

Supports and resistances

162.20

161.85

161.50

161.00 Last

160.55

160.30

160.00

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