USD/JPY may fall 112 - 166 pips

Our pivot point stands at 144.73.

Our preference

The downside prevails as long as 144.73 is resistance.

Alternative scenario

The upside breakout of 144.73, would call for 145.64 and 146.18.

Comment

The RSI is below 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 144.26 and 144.53).

Supports and resistances

146.18 **

145.64 *

144.73 **

144.37

143.99 last

142.87

142.33 **

141.79 *

141.24 **

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