USD/JPY intraday : the RSI is oversold

Our pivot point is at 147.01.

Our preference: rebound towards 148.24

Alternative scenario: below 147.01, expect 146.53 and 146.24.

Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 147.99 and 149.57).

Supports and resistances:

148.81 **

148.53 *

148.24 **

147.95

147.38 last

147.20

147.01 **