USD/JPY may fall 31 - 61 pips

Pivot

157.10

Our preference

Short positions below 157.10 with targets at 156.45 & 156.15 in extension.

Alternative scenario

Above 157.10 look for further upside with 157.45 & 157.75 as targets.

Comment

As long as 157.10 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

157.75

157.45

157.10

156.76 Last

156.45

156.15

155.75

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