USD/JPY may fall 38 - 68 pips

Pivot

157.45

Our preference

Short positions below 157.45 with targets at 156.80 & 156.50 in extension.

Alternative scenario

Above 157.45 look for further upside with 157.75 & 158.00 as targets.

Comment

As long as 157.45 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

158.00

157.75

157.45

157.18 Last

156.80

156.50

156.25

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