USD/JPY may fall 34 - 54 pips

Pivot

161.75

Our preference

Short positions below 161.75 with targets at 161.35 & 161.15 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

161.69 Last

161.35

161.15

160.90

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