USD/JPY may fall 53 - 88 pips

Pivot

161.10

Our preference

Short positions below 161.10 with targets at 160.25 & 159.90 in extension.

Alternative scenario

Above 161.10 look for further upside with 161.45 & 161.75 as targets.

Comment

As long as 161.10 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

161.75

161.45

161.10

160.78 Last

160.25

159.90

159.60

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