USD/JPY may fall 70 - 115 pips

Pivot

146.20

Our preference

Short positions below 146.20 with targets at 145.30 & 144.85 in extension.

Alternative scenario

Above 146.20 look for further upside with 146.50 & 146.80 as targets.

Comment

As long as the resistance at 146.20 is not surpassed, the risk of the break below 145.30 remains high.

Supports and resistances

146.80

146.50

146.20

146.00 Last

145.30

144.85

144.50

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