USD/JPY may fall 41 - 101 pips

Pivot

159.35

Our preference

Short positions below 159.35 with targets at 157.40 & 156.80 in extension.

Alternative scenario

Above 159.35 look for further upside with 160.20 & 160.90 as targets.

Comment

As long as 159.35 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

160.90

160.20

159.35

157.81 Last

157.40

156.80

156.00

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