USD/JPY may fall 94 - 140 pips

Our pivot point is at 153.29.

Our preference

Target 151.18.

Alternative scenario

Above 153.29, look for 154.05 and 154.51.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (152.86) but above its 50 period moving average (152.14).

Supports and resistances

154.51 **

154.05 *

153.29 **

152.98

152.58 last

151.64

151.18 **

150.73 *

150.27 **

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