USD/JPY may fall 107 - 159 pips

Our pivot point is at 148.10.

Our preference

As long as 148.10 is resistance look for 145.34.

Alternative scenario

Above 148.10, look for 148.98 and 149.51.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 147.07 and 146.93).

Supports and resistances

149.51 **

148.98 *

148.10 **

147.75

146.93 last

145.86

145.34 **

144.81 *

144.29 **

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