USD/JPY may fall 44 - 114 pips

Pivot

149.85

Our preference

Short positions below 149.85 with targets at 148.50 & 147.80 in extension.

Alternative scenario

Above 149.85 look for further upside with 150.50 & 151.00 as targets.

Comment

As long as 149.85 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

151.00

150.50

149.85

148.94 Last

148.50

147.80

147.30

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