USD/JPY may fall 98 - 144 pips

Our pivot point is at 147.97.

Our preference

Target 145.80.

Alternative scenario

Above 147.97, look for 148.74 and 149.20.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (147.52) but above its 50 period moving average (147.15).

Supports and resistances

149.20 **

148.74 *

147.97 **

147.66

147.24 last

146.26

145.80 **

145.34 *

144.88 **

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