USD/JPY may fall 49 - 74 pips

Pivot

149.55

Our preference

Short positions below 149.55 with targets at 148.85 & 148.60 in extension.

Alternative scenario

Above 149.55 look for further upside with 149.80 & 150.00 as targets.

Comment

As long as 149.55 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

150.00

149.80

149.55

149.34 Last

148.85

148.60

148.30

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