USD/JPY may fall 39 - 79 pips

Pivot

156.85

Our preference

Short positions below 156.85 with targets at 156.25 & 155.85 in extension.

Alternative scenario

Above 156.85 look for further upside with 157.10 & 157.45 as targets.

Comment

The break below 156.85 is a negative signal that has opened a path to 156.25.

Supports and resistances

157.45

157.10

156.85

156.64 Last

156.25

155.85

155.50

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