USD/JPY may fall 26 - 46 pips

Pivot

161.75

Our preference

Short positions below 161.75 with targets at 161.25 & 161.05 in extension.

Alternative scenario

Above 161.75 look for further upside with 162.00 & 162.20 as targets.

Comment

As long as 161.75 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

162.20

162.00

161.75

161.51 Last

161.25

161.05

160.85

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