USD/JPY may fall 98 - 143 pips

Our pivot point stands at 152.25.

Our preference

The downside prevails as long as 152.25 is resistance.

Alternative scenario

Above 152.25, look for 153.01 and 153.46.

Comment

The RSI is below its neutrality area at 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 151.93 and 152.29).

Supports and resistances

153.46 **

153.01 *

152.25 **

151.95

151.62 last

150.64

150.19 **

149.73 *

149.28 **

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