USD/JPY may fall 60 - 95 pips

Pivot

147.20

Our preference

Short positions below 147.20 with targets at 146.40 & 146.05 in extension.

Alternative scenario

Above 147.20 look for further upside with 147.50 & 147.90 as targets.

Comment

As long as 147.20 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

147.90

147.50

147.20

147.00 Last

146.40

146.05

145.60

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