USD/JPY may fall 46 - 86 pips

Pivot

147.75

Our preference

Short positions below 147.75 with targets at 146.65 & 146.25 in extension.

Alternative scenario

Above 147.75 look for further upside with 148.20 & 148.50 as targets.

Comment

The RSI calls for a new downleg.

Supports and resistances

148.50

148.20

147.75

147.11 Last

146.65

146.25

145.70

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