USD/JPY may rise 88 - 131 pips
Our pivot point is at 154.93.
Our preference
The upside prevails as long as 154.93 is support.
Alternative scenario
The downside breakout of 154.93 would call for 154.21 and 153.78.
Comment
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 155.12 and 154.94).
Supports and resistances
157.72 **
157.29 *
156.86 **
156.43
155.55 last
155.21
154.93 **
154.21 *
153.78 **
Number of asterisks represents the strength of support and resistance levels.
Our preference
The upside prevails as long as 154.93 is support.
Alternative scenario
The downside breakout of 154.93 would call for 154.21 and 153.78.
Comment
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 155.12 and 154.94).
Supports and resistances
157.72 **
157.29 *
156.86 **
156.43
155.55 last
155.21
154.93 **
154.21 *
153.78 **
Number of asterisks represents the strength of support and resistance levels.
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