USD/JPY may fall 57 - 127 pips

Pivot

157.60

Our preference

Short positions below 157.60 with targets at 156.00 & 155.30 in extension.

Alternative scenario

Above 157.60 look for further upside with 158.30 & 158.90 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

158.90

158.30

157.60

156.57 Last

156.00

155.30

155.00

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