USD/JPY may fall 47 - 77 pips

Pivot

149.65

Our preference

Short positions below 149.65 with targets at 148.85 & 148.55 in extension.

Alternative scenario

Above 149.65 look for further upside with 150.00 & 150.30 as targets.

Comment

As long as the resistance at 149.65 is not surpassed, the risk of the break below 148.85 remains high.

Supports and resistances

150.30

150.00

149.65

149.32 Last

148.85

148.55

148.25

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