USD/JPY may fall 32 - 77 pips

Pivot

157.45

Our preference

Short positions below 157.45 with targets at 156.60 & 156.15 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

156.92 Last

156.60

156.15

155.70

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