Daily Pivots: (S1) 141.42; (P) 142.81; (R1) 143.54; More…

USD/JPY’s decline from 145.06 temporary top continues today and intraday bias stays on the downside for 140.90 resistance turned support. Firm break there will raise the chance that whole rebound from 127.20 has completed. Deeper decline should then be seen to 137.90 resistance turned support for confirmation. On the upside, above 142.99 minor resistance will turn intraday bias neutral first.

In the bigger picture, rise from 127.20 is seen as the second leg of the corrective pattern from 151.93 high. Further rally could still be seen as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance should be seen there to limit upside. However, Break of 137.90 will indicate that the third leg has started back towards 127.20.

Daily Pivots: (S1) 141.42; (P) 142.81; (R1) 143.54; More…

Intraday bias in USD/JPY remains on the downside at this point. Fall from 145.06 short term top should target 140.90 resistance turned support. Firm break there will raise the chance that whole rebound from 127.20 has completed. Deeper decline should then be seen to 137.90 resistance turned support for confirmation. On the upside, above 143.54 minor resistance will turn bias back to the upside for retesting 145.06 instead.

In the bigger picture, rise from 127.20 is seen as the second leg of the corrective pattern from 151.93 high. Further rally could still be seen as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance should be seen there to limit upside. However, Break of 137.90 will indicate that the third leg has started back towards 127.20.

USD/JPY’s steep decline last week confirmed short term topping at 145.06, in bearish divergence condition in 4H MACD. Initial bias is now on the downside this week for 140.90 resistance turned support. Firm break there will raise the chance that whole rebound from 127.20 has completed. Deeper decline should then be seen to 137.90 resistance turned support for confirmation. On the upside, above 143.54 minor resistance will turn bias back to the upside for retesting 145.06 instead.

In the bigger picture, rise from 127.20 is seen as the second leg of the corrective pattern from 151.93 high. Further rally could still be seen as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance should be seen there to limit upside. However, Break of 137.90 will indicate that the third leg has started back towards 127.20.

In the long term picture, price action from 151.93 is seen as developing into a corrective pattern to up trend from 75.56 (2011 low). While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 75.56 to 151.93 at 122.75.

Daily Pivots: (S1) 143.53; (P) 144.10; (R1) 144.63; More…

Intraday bias in USD/JPY is back on the downside with break of 143.54 temporary low. Deeper decline would be seen as corrective fall from 145.06 extends. But still, overall outlook remains bullish with 140.90 resistance turned support intact. Break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.53; (P) 144.10; (R1) 144.63; More…

Intraday bias in USD/JPY remains neutral at this point. Correction from 145.06 is in progress and break of 143.54 will turn bias to the downside for deeper fall. Still, overall outlook remains bullish with 140.90 resistance turned support intact. Break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.26; (P) 144.49; (R1) 144.91; More…

Intraday bias in USD/JPY is turned neutral again as it recovered quickly after dipping to 143.54. Overall outlook remains bullish with 140.90 resistance turned support intact. Break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, break of 143.54 will turn bias to the downside for deeper correction.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.26; (P) 144.49; (R1) 144.91; More…

Intraday bias in USD/JPY is now on the downside with break of 55 4H EMA (now at 143.90). Correction from 145.06 is extending lower, but near term outlook will remain mildly bullish as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.22; (P) 144.47; (R1) 144.72; More…

Range trading continues in USD/JPY and intraday bias stays neutral. On the downside, break of 55 4H EMA (now at 143.85) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.22; (P) 144.47; (R1) 144.72; More…

Intraday bias in USD/JPY remains neutral as consolidation from 145.06 is extending. On the downside, break of 55 4H EMA (now at 143.79) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.14; (P) 144.53; (R1) 145.06; More…

USD/JPY is extending the consolidation from 145.05 and intraday bias remains neutral. On the downside, break of 55 4H EMA (now at 143.67) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.00; (P) 144.53; (R1) 144.86; More…

Intraday bias in USD/JPY remains neutral for consolidations below 145.06. Break of 55 4H EMA (now at 143.40) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

USD/JPY’s rally from 127.20 continued last week but retreated after hitting 145.06. Upside momentum was also diminishing as seen in 4 H MACD. Initial bias remains neutral this week for consolidations first. Break of 55 4H EMA (now at 143.28) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

In the long term picture, price action from 151.93 is seen as developing into a corrective pattern to up trend from 75.56 (2011 low). While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 75.56 to 151.93 at 122.75.

Daily Pivots: (S1) 144.31; (P) 144.61; (R1) 145.08; More…

Intraday bias in USD/JPY is turned neutral with current retreat. Some consolidations would be seen first, but further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.31; (P) 144.61; (R1) 145.08; More…

While USD/JPY continues to lose upside momentum as seen in 4H MACD, there is no sign of topping yet. Intraday bias stays on the upside for 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 143.72 minor support will turn bias again and bring consolidations. But further rally will remain in favor as long as 140.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.94; (P) 144.28; (R1) 144.83; More…

USD/JPY’s rally is still in progress and intraday bias stays on the upside at this point. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 143.29 minor support will turn bias again and bring consolidations. But further rally will remain in favor as long as 140.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.94; (P) 144.28; (R1) 144.83; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 143.29 minor support will turn bias again and bring consolidations. Down further rally will remain in favor as long as 140.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.52; (P) 143.84; (R1) 144.40; More…

USD/JPY’s rally is still in progress and intraday bias stays on the upside at this point. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn bias neutral again and bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.52; (P) 143.84; (R1) 144.40; More…

Intraday bias in USD/JPY stays on the upside for the moment. Current rally from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn bias neutral again and bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.07; (P) 143.39; (R1) 143.84; More…

Further rise is expected in USD/JPY despite loss of upside momentum. Current rally from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn bias neutral again and bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.07; (P) 143.39; (R1) 143.84; More…

USD/JPY continues to lose upside momentum, but further rally is expected with 142.68 minor support intact. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.