USD/JPY may fall 37 - 67 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

As long as 156.55 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

157.15

156.90

156.55

156.27 Last

155.90

155.60

155.25

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