USD/JPY may fall 83 - 133 pips

Pivot

157.20

Our preference

Short positions below 157.20 with targets at 155.90 & 155.40 in extension.

Alternative scenario

Above 157.20 look for further upside with 157.60 & 157.85 as targets.

Comment

The break below 157.20 is a negative signal that has opened a path to 155.90.

Supports and resistances

157.85

157.60

157.20

156.73 Last

155.90

155.40

155.00

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