USD/JPY may rise 83 - 120 pips.

USD/JPY may rise 83 - 120 pips.

Our pivot point is at 158.70.

Our preference : The upside prevails as long as 158.70 is support Alternative scenario Below 158.70, expect 158.07 and 157.70.

Comment : The RSI is above its neutrality area at 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 158.91 and 158.93).