USD/JPY may fall 113 - 166 pips

Our pivot point is at 148.42.

Our preference

The downside prevails as long as 148.42 is resistance.

Alternative scenario

Above 148.42, look for 149.30 and 149.83.

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 148.01 and 148.61).

Supports and resistances

149.83 **

149.30 *

148.42 **

148.07

147.71 last

146.58

146.05 **

145.52 *

145.00 **

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