USD/JPY may fall 104 - 149 pips

149.47 is our pivot point.

Our preference

The downside prevails as long as 149.47 is resistance.

Alternative scenario

The upside breakout of 149.47, would call for 150.23 and 150.68.

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 148.93 and 149.10).

Supports and resistances

150.68 **

150.23 *

149.47 **

149.18

148.72 last

147.68

147.23 **

146.78 *

146.33 **

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