USD/JPY may fall 59 - 99 pips

Pivot

154.35

Our preference

Short positions below 154.35 with targets at 153.10 & 152.70 in extension.

Alternative scenario

Above 154.35 look for further upside with 154.90 & 155.50 as targets.

Comment

As long as 154.35 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

155.50

154.90

154.35

153.69 Last

153.10

152.70

152.00

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