USD/JPY may fall 83 - 118 pips

Pivot

155.75

Our preference

Short positions below 155.75 with targets at 154.15 & 153.80 in extension.

Alternative scenario

Above 155.75 look for further upside with 156.10 & 156.45 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

156.45

156.10

155.75

154.98 Last

154.15

153.80

153.50

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