USD/JPY may fall 44 - 74 pips

Pivot

160.85

Our preference

Short positions below 160.85 with targets at 160.10 & 159.80 in extension.

Alternative scenario

Above 160.85 look for further upside with 161.10 & 161.35 as targets.

Comment

As long as 160.85 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

161.35

161.10

160.85

160.54 Last

160.10

159.80

159.50

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