USD/JPY may fall 66 - 106 pips

Pivot

156.10

Our preference

Short positions below 156.10 with targets at 155.15 & 154.75 in extension.

Alternative scenario

Above 156.10 look for further upside with 156.45 & 156.80 as targets.

Comment

As long as 156.10 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

156.80

156.45

156.10

155.81 Last

155.15

154.75

154.50

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