USD/JPY may fall 9 - 29 pips

Pivot

161.45

Our preference

Short positions below 161.45 with targets at 160.95 & 160.75 in extension.

Alternative scenario

Above 161.45 look for further upside with 161.70 & 162.00 as targets.

Comment

As long as 161.45 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

162.00

161.70

161.45

161.04 Last

160.95

160.75

160.55

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