USD/JPY may rise 57 - 82 pips

Pivot

160.65

Our preference

Long positions above 160.65 with targets at 161.25 & 161.50 in extension.

Alternative scenario

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

Comment

A support base at 160.65 has formed and has allowed for a temporary stabilisation.

Supports and resistances

161.85

161.50

161.25

160.68 Last

160.65

160.30

160.00

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