USD/JPY may fall 118 - 163 pips

Pivot

146.30

Our preference

Short positions below 146.30 with targets at 144.95 & 144.50 in extension.

Alternative scenario

Above 146.30 look for further upside with 146.80 & 147.30 as targets.

Comment

As long as 146.30 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

147.30

146.80

146.30

146.13 Last

144.95

144.50

144.00

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