USD/JPY may fall 77 - 115 pips

156.18 is our pivot point.

Our preference

The downside prevails as long as 156.18 is resistance.

Alternative scenario

The upside breakout of 156.18, would call for 156.81 and 157.19.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 155.97 and 155.94).

Supports and resistances

157.19 **

156.81 *

156.18 **

155.93

155.64 last

154.87

154.49 **

154.12 *

153.74 **

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