USD/JPY may fall 63 - 98 pips

Pivot

154.20

Our preference

Short positions below 154.20 with targets at 153.10 & 152.75 in extension.

Alternative scenario

Above 154.20 look for further upside with 154.70 & 154.90 as targets.

Comment

As long as 154.20 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

154.90

154.70

154.20

153.73 Last

153.10

152.75

151.95

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