USD/JPY may fall 117 - 171 pips

Our pivot point stands at 145.02.

Our preference

The downside prevails as long as 145.02 is resistance.

Alternative scenario

Above 145.02, look for 145.94 and 146.48.

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 144.64 and 144.62).

Supports and resistances

146.48 **

145.94 *

145.02 **

144.66

144.26 last

143.09

142.55 **

142.00 *

141.46 **

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