USD/JPY may rise 48 - 83 pips

Pivot

160.65

Our preference

Long positions above 160.65 with targets at 161.50 & 161.85 in extension.

Alternative scenario

Below 160.65 look for further downside with 160.30 & 160.00 as targets.

Comment

The immediate trend remains up and the momentum is strong.

Supports and resistances

162.20

161.85

161.50

161.02 Last

160.65

160.30

160.00

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