USD/JPY may fall 78 - 111 pips

Our pivot point stands at 156.25.

Our preference

The downside prevails as long as 156.25 is resistance.

Alternative scenario

Above 156.25, look for 156.82 and 157.16.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 156.02 and 156.48). Finally, the USD/JPY is trading below its lower Bollinger band (standing at 155.78).

Supports and resistances

157.16 **

156.82 *

156.25 **

156.03

155.73 last

154.95

154.62 **

154.28 *

153.94 **

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