USD/JPY may fall 39 - 69 pips

Pivot

147.75

Our preference

Short positions below 147.75 with targets at 147.20 & 146.90 in extension.

Alternative scenario

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

Comment

The upward potential is likely to be limited by the resistance at 147.75.

Supports and resistances

148.50

148.20

147.75

147.59 Last

147.20

146.90

146.55

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