USD/JPY - The dollar sliding lower against the yen ahead of the FOMC meeting. Though there is support at 146.65

Taking a look at USD/JPY ahead of the FOMC decision tomorrow evening. Currently, the dollar is trading at around 147.19 against the Yen. Based on the 4-hourly chart, we can see that after its January rally, it has taken a breather, finding resistance at 148.80. The forex pair has been gradually sliding with what seems like another move to re-test the support of 146.65. This support slightly correlates with the 100-day moving average, so it will be closely watched by traders to see if the dollar upholds. Any signs of consolidation along and around the 100MA will entice the bulls for a potential push higher back towards 149-150. A clear break and close below the 100MA and below 146.65, would increase the likelihood for the bears to force the pair lower towards the 200MA. The 200MA currently reads 144.77. Looking at the technical indicators, they suggest that further downside is a possibility. The MACD is negative and so is the RSI as it reads 37.