USD/JPY may fall 45 - 70 pips

Pivot

157.90

Our preference

Short positions below 157.90 with targets at 156.95 & 156.70 in extension.

Alternative scenario

Above 157.90 look for further upside with 158.20 & 158.60 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

158.60

158.20

157.90

157.40 Last

156.95

156.70

156.10

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