USD/JPY may rise 92 - 138 pips

Our pivot point stands at 146.03.

Our preference

Rebound towards 148.03.

Alternative scenario

The downside breakout of 146.03 would call for 145.26 and 144.80.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 146.68 and 147.01).

Supports and resistances

148.95 **

148.49 *

148.03 **

147.57

146.65 last

146.33

146.03 **

145.26 *

144.80 **

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