USD/JPY may fall 49 - 79 pips

Intraday: key resistance at 154.55.

Pivot

154.55

Our preference

Short positions below 154.55 with targets at 153.85 & 153.55 in extension.

Alternative scenario

Above 154.55 look for further upside with 154.75 & 155.00 as targets.

Comment

As long as 154.55 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

155.00

154.75

154.55

154.34 Last

153.85

153.55

153.25

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

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