USD/JPY may fall 74 - 107 pips

Our pivot point is at 154.20.

Our preference

The downside prevails as long as 154.20 is resistance.

Alternative scenario

The upside breakout of 154.20, would call for 154.76 and 155.09.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 153.98 and 153.89).

Supports and resistances

155.09 **

154.76 *

154.20 **

153.98

153.74 last

153.00

152.67 **

152.34 *

152.00 **

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