USD/JPY may fall 71 - 121 pips

Pivot

153.50

Our preference

Short positions below 153.50 with targets at 151.50 & 151.00 in extension.

Alternative scenario

Above 153.50 look for further upside with 154.15 & 154.90 as targets.

Comment

As long as 153.50 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

154.90

154.15

153.50

152.21 Last

151.50

151.00

150.50

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