USD/JPY may fall 112 - 164 pips

Our pivot point is at 142.66.

Our preference

The downside prevails as long as 142.66 is resistance.

Alternative scenario

The upside breakout of 142.66, would call for 143.54 and 144.06.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 142.32 and 142.47).

Supports and resistances

144.06 **

143.54 *

142.66 **

142.31

141.88 last

140.76

140.24 **

139.71 *

139.19 **

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