USD/JPY may fall 103 - 139 pips

155.08 is our pivot point.

Our preference

Under pressure below 155.08.

Alternative scenario

The upside breakout of 155.08, would call for 155.68 and 156.05.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 154.73 and 154.31). Finally, the USD/JPY has penetrated its lower Bollinger band (154.27).

Supports and resistances

156.05 **

155.68 *

155.08 **

154.84

154.13 last

153.10

152.74 **

152.38 *

152.02 **

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