USD/JPY may fall 38 - 68 pips

Pivot

156.10

Our preference

Short positions below 156.10 with targets at 155.45 & 155.15 in extension.

Alternative scenario

Above 156.10 look for further upside with 156.40 & 156.70 as targets.

Comment

As long as the resistance at 156.10 is not surpassed, the risk of the break below 155.45 remains high.

Supports and resistances

156.70

156.40

156.10

155.83 Last

155.45

155.15

154.85

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