USD/JPY may fall 42 - 102 pips

Pivot

148.40

Our preference

Short positions below 148.40 with targets at 147.20 & 146.60 in extension.

Alternative scenario

Above 148.40 look for further upside with 148.85 & 149.40 as targets.

Comment

As long as the resistance at 148.40 is not surpassed, the risk of the break below 147.20 remains high.

Supports and resistances

149.40

148.85

148.40

147.62 Last

147.20

146.60

146.10

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