USD/JPY may fall 53 - 113 pips

Pivot

141.25

Our preference

Short positions below 141.25 with targets at 140.15 & 139.55 in extension.

Alternative scenario

Above 141.25 look for further upside with 141.70 & 142.20 as targets.

Comment

As long as 141.25 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

142.20

141.70

141.25

140.68 Last

140.15

139.55

139.25

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