USD/JPY may fall 74 - 119 pips

Pivot

146.20

Our preference

Short positions below 146.20 with targets at 144.95 & 144.50 in extension.

Alternative scenario

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

Comment

The upward potential is likely to be limited by the resistance at 146.20.

Supports and resistances

147.30

146.80

146.20

145.69 Last

144.95

144.50

144.00

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