USD/JPY may rise 85 - 118 pips

Our pivot point is at 141.89.

Our preference

Rebound towards 144.11.

Alternative scenario

The downside breakout of 141.89 would call for 141.33 and 141.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (142.57) but below its 50 period moving average (144.54).

Supports and resistances

144.78 **

144.45 *

144.11 **

143.78

142.93 last

142.11

141.89 **

141.33 *

141.00 **

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