USD/JPY may fall 32 - 57 pips

Pivot

157.30

Our preference

Short positions below 157.30 with targets at 156.60 & 156.35 in extension.

Alternative scenario

Above 157.30 look for further upside with 157.55 & 157.75 as targets.

Comment

As long as the resistance at 157.30 is not surpassed, the risk of the break below 156.60 remains high.

Supports and resistances

157.75

157.55

157.30

156.92 Last

156.60

156.35

156.00

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