USD/JPY may fall 90 - 170 pips

Pivot

146.20

Our preference

Short positions below 146.20 with targets at 144.50 & 143.70 in extension.

Alternative scenario

Above 146.20 look for further upside with 146.80 & 147.30 as targets.

Comment

As long as 146.20 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

147.30

146.80

146.20

145.40 Last

144.50

143.70

143.30

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