USD/JPY may fall 56-82 pips
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 113.58 and 113.52).
Our preference: The downside prevails as long as 113.83 is resistance.
Alternative scenario: The upside breakout of 113.83, would call for 114.27 and 114.53.
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 113.58 and 113.52).
Our preference: The downside prevails as long as 113.83 is resistance.
Alternative scenario: The upside breakout of 113.83, would call for 114.27 and 114.53.
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