USD/JPY may fall 56 - 76 pips

Pivot

161.80

Our preference

Short positions below 161.80 with targets at 160.95 & 160.75 in extension.

Alternative scenario

Above 161.80 look for further upside with 162.00 & 162.20 as targets.

Comment

As long as 161.80 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

162.20

162.00

161.80

161.51 Last

160.95

160.75

160.55

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