USD/JPY may fall 190 - 250 pips

Pivot

160.20

Our preference

Short positions below 160.20 with targets at 157.40 & 156.80 in extension.

Alternative scenario

Above 160.20 look for further upside with 160.90 & 161.80 as targets.

Comment

As long as the resistance at 160.20 is not surpassed, the risk of the break below 157.40 remains high.

Supports and resistances

161.80

160.90

160.20

159.30 Last

157.40

156.80

156.00

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