USD/JPY may fall 129 - 214 pips

Pivot

160.30

Our preference

Short positions below 160.30 with targets at 157.45 & 156.60 in extension.

Alternative scenario

Above 160.30 look for further upside with 160.80 & 161.30 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

161.30

160.80

160.30

158.74 Last

157.45

156.60

155.70

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