USD/JPY may fall 70 - 140 pips

Pivot

154.15

Our preference

Short positions below 154.15 with targets at 152.20 & 151.50 in extension.

Alternative scenario

Above 154.15 look for further upside with 154.90 & 155.50 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

155.50

154.90

154.15

152.90 Last

152.20

151.50

151.00

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