USD/JPY may fall 100 - 155 pips

Pivot

154.70

Our preference

Short positions below 154.70 with targets at 152.50 & 151.95 in extension.

Alternative scenario

Above 154.70 look for further upside with 155.40 & 155.90 as targets.

Comment

As long as 154.70 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

155.90

155.40

154.70

153.50 Last

152.50

151.95

151.50

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