USD/JPY may fall 95 - 141 pips

Our pivot point stands at 147.80.

Our preference

Target 145.45.

Alternative scenario

The upside breakout of 147.80, would call for 148.57 and 149.03.

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 pair is trading under its 20 period moving average (147.16) but above its 50 period moving average (146.42).

Supports and resistances

149.03 **

148.57 *

147.80 **

147.49

146.86 last

145.91

145.45 **

144.99 *

144.53 **

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