USD/JPY may fall 100 - 145 pips

145.38 is our pivot point.

Our preference

The downside prevails as long as 145.38 is resistance.

Alternative scenario

The upside breakout of 145.38, would call for 146.14 and 146.59.

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 is trading under both its 20 and 50 period moving average (respectively at 144.88 and 144.99).

Supports and resistances

146.59 **

146.14 *

145.38 **

145.08

144.45 last

143.45

143.00 **

142.54 *

142.09 **

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