USD/JPY may fall 35 - 65 pips

Intraday: under pressure.

Pivot

155.40

Our preference

Short positions below 155.40 with targets at 154.50 & 154.20 in extension.

Alternative scenario

Above 155.40 look for further upside with 155.90 & 156.30 as targets.

Comment

As long as 155.40 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

156.30

155.90

155.40

154.85 Last

154.50

154.20

153.80

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

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