USD/JPY may fall 48 - 78 pips

Pivot

156.55

Our preference

Short positions below 156.55 with targets at 155.90 & 155.60 in extension.

Alternative scenario

Above 156.55 look for further upside with 156.90 & 157.15 as targets.

Comment

Intraday technical indicators are mixed and call for caution.

Supports and resistances

157.15

156.90

156.55

156.38 Last

155.90

155.60

155.25

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