Current price: 159.00
Key point: 158.60
Our preferred strategy: Buy positions above 158.60 with a first target of 159.80 and then a second target of 160.60.
Alternative scenario: Stop loss and trend reversal upon breaking the 158.00 level, targeting levels of 157.20.
Technical commentary
The USD/JPY pair is holding above the key support levels of 158.00-158.60 after the upward correction that began from the 155.20 level. The price is expected to continue its rise towards 159.80, and then, if it breaks through that level, it could reach 160.60.
