USD/JPY may fall 90 - 134 pips

Our pivot point is at 150.34.

Our preference

The downside prevails as long as 150.34 is resistance.

Alternative scenario

The upside breakout of 150.34, would call for 151.08 and 151.53.

Comment

The RSI is below its neutrality area at 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 149.90 and 150.02). Finally, the USD/JPY is trading below its lower Bollinger band (standing at 149.66).

Supports and resistances

151.53 **

151.08 *

150.34 **

150.04

149.64 last

148.74

148.30 **

147.86 *

147.41 **

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