USD/JPY may fall 71 - 106 pips

Our pivot point stands at 150.69.

Our preference

As long as 150.69 is resistance look for 148.82.

Alternative scenario

Above 150.69, look for 151.28 and 151.63.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 150.10 and 150.02).

Supports and resistances

151.63 **

151.28 *

150.69 **

150.46

149.88 last

149.17

148.82 **

148.47 *

148.12 **

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