USD/JPY may fall 59 - 119 pips

Pivot

147.25

Our preference

Short positions below 147.25 with targets at 145.60 & 145.00 in extension.

Alternative scenario

Above 147.25 look for further upside with 147.90 & 148.40 as targets.

Comment

The RSI has broken down its 30 level.

Supports and resistances

148.40

147.90

147.25

146.19 Last

145.60

145.00

144.20

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