USD/JPY may fall 70 - 105 pips

150.40 is our pivot point.

Our preference

The downside prevails as long as 150.40 is resistance.

Alternative scenario

Above 150.40, look for 150.99 and 151.34.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 150.12 and 149.98).

Supports and resistances

151.34 **

150.99 *

150.40 **

150.17

149.74 last

149.04

148.69 **

148.34 *

147.99 **

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