USD/JPY may fall 118 - 173 pips

Our pivot point is at 145.73.

Our preference

The downside prevails as long as 145.73 is resistance.

Alternative scenario

The upside breakout of 145.73, would call for 146.65 and 147.20.

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 stands below its 20 and 50 period moving average (respectively at 145.45 and 145.49).

Supports and resistances

147.20 **

146.65 *

145.73 **

145.37

144.98 last

143.80

143.25 **

142.70 *

142.15 **

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