USD/JPY may fall 40 - 85 pips

Pivot

157.05

Our preference

Short positions below 157.05 with targets at 155.90 & 155.45 in extension.

Alternative scenario

Above 157.05 look for further upside with 157.50 & 157.85 as targets.

Comment

The RSI has broken down its 30 level.

Supports and resistances

157.85

157.50

157.05

156.30 Last

155.90

155.45

155.00

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