Daily Pivots: (S1) 104.37; (P) 104.60; (R1) 104.75; More...

Intraday bias in USD/JPY is turned neutral again after today’s sharp reversal. On the downside, sustained break of 104.00 support will resume larger decline from 111.71. Further fall could be seen towards 101.18 support. On the upside, above 105.34 will turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.37; (P) 104.60; (R1) 104.75; More...

USD/JPY’s break of 105.05 resistance suggests that fall from 106.10 has completed at 104.02, ahead of 104.00. Intraday bias is turned back to the upside for 106.10 resistance first. On the downside, break of 104.37 will turn bias back to the downside for retesting 104.00 instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.56; (P) 104.76; (R1) 104.95; More...

Intraday bias in USD/JPY stays neutral at this point. With 105.85 resistance intact, further decline is expected and downside breakout is in favor. Firm break of 104.00 will resume larger decline from 111.71, towards 101.18 low. On the upside, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.56; (P) 104.76; (R1) 104.95; More...

Intraday bias in USD/JPY remains neutral for the moment and outlook is unchanged. With 105.85 resistance intact, further decline is expected and downside breakout is in favor. Firm break of 104.00 will resume larger decline from 111.71, towards 101.18 low. On the upside, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.29; (P) 104.51; (R1) 104.90; More...

USd/JPY is staying in consolidation above 104.02 temporary low and intraday bias remains neutral first. With 105.85 resistance intact, further decline is expected and downside breakout is in favor. Firm break of 104.00 will resume larger decline from 111.71, towards 101.18 low. On the upside, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.29; (P) 104.51; (R1) 104.90; More...

Intraday bias in USD/JPY remains neutral first and further decline is mildly in favor with 105.85 resistance intact. Firm break of 104.00 will resume larger decline from 111.71, towards 101.18 low. On the upside, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

USD/JPY dropped further to 104.02 last week but couldn’t break through 104.00 support and recovered. Initial bias is neutral this week first and further fall is expected. Firm break of 104.00 will resume larger decline from 111.71, towards 101.18 low. On the upside, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 (2015 high) is viewed as an impulsive move, no change in this view. Price actions from 125.85 are seen as a corrective move which could still extend. In case of deeper fall, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77. Up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.

Daily Pivots: (S1) 104.19; (P) 104.46; (R1) 104.89; More...

Intraday bias in USD/JPY stays neutral for the moment. Further fall is expected with 105.05 resistance intact. On the downside, firm break of 104.00 will resume larger decline from 111.71, towards 101.18 key support. However, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.19; (P) 104.46; (R1) 104.89; More...

Intraday bias in USD/JPY remains neutral and further fall is expected with 105.05 resistance intact. On the downside, firm break of 104.00 will resume larger decline from 111.71, towards 101.18 key support. However, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.11; (P) 104.33; (R1) 104.56; More...

Intraday bias in USD/JPY remains neutral for the moment. Further decline is expected with 105.05 resistance intact. On the downside, firm break of 104.00 will resume larger decline from 111.71, towards 101.18 key support. However, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.11; (P) 104.33; (R1) 104.56; More...

Intraday bias in USD/JPY is turned neutral with 4 hour MACD crossed above signal line. Further decline is expected with 105.05 resistance intact. On the downside, firm break of 104.00 will resume larger decline from 111.71, towards 101.18 key support. However, firm break of 105.05 will indicate short term bottoming and turn bias back to the upside for 106.10 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.26; (P) 104.57; (R1) 104.76; More...

Intraday bias in USD/JPY remains on the downside for 104.00 low. Decisive break there will resume larger decline from 111.71, towards 101.18 key support. On the upside, break of 105.05 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.26; (P) 104.57; (R1) 104.76; More...

USD/JPY’s fall from 106.10 resumes by taking out 104.34. Intraday bias is back on the downside for 104.00 low. Break will resume larger decline from 111.71, towards 101.18 key support. On the upside, break of 105.05 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.64; (P) 104.85; (R1) 105.04; More...

Intraday bias in USD/JPY remains neutral for the moment. On the downside, break of 104.34 will will target 104.00 low first. Break will resume larger decline from 111.71. Nevertheless, sustained break of 105.03 support turned resistance will neutralize immediate near term bearishness. Intraday bias will be turned back to the upside for 106.10 resistance instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.64; (P) 104.85; (R1) 105.04; More...

Despite breaching 105.03 support turned resistance, USD/JPY couldn’t sustain above the level and retreated. Intraday bias stays neutral first. On the downside, break of 104.34 will will target 104.00 low first. Break will resume larger decline from 111.71. Nevertheless, sustained break of 105.03 support turned resistance will neutralize immediate near term bearishness. Intraday bias will be turned back to the upside for 106.10 resistance instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.52; (P) 104.73; (R1) 104.91; More...

USD/JPY is staying in consolidations between 104.34 temporary low and 105.03 resistance. Intraday bias remains neutral first. On the downside, break of 104.34 will will target 104.00 low first. Break will resume larger decline from 111.71. Nevertheless, sustained break of 105.03 support turned resistance will neutralize immediate near term bearishness. Intraday bias will be turned back to the upside for 106.10 resistance instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.52; (P) 104.73; (R1) 104.91; More...

Intraday bias in USD/JPY remains neutral first and another fall is mildly in favor as long as 105.03 minor resistance holds. Below 104.34 will target 104.00 low first. Break will resume larger decline from 111.71. Nevertheless, sustained break of 105.03 support turned resistance will neutralize immediate near term bearishness. Intraday bias will be turned back to the upside for 106.10 resistance instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

USD/JPY’s sharp decline last week suggests that corrective rebound form 104.00 has completed at 106.10. But as a temporary low was formed at 104.34, initial bias is neutral this week first. Current development argues that larger decline from 111.71 is possibly resuming. Break of 104.34 will target 14.00 low to confirm this bearish case. This will now be the favored case as long as 106.10 resistance holds, in case of stronger recovery.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 (2015 high) is viewed as an impulsive move, no change in this view. Price actions from 125.85 are seen as a corrective move which could still extend. In case of deeper fall, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77. Up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.

Daily Pivots: (S1) 104.61; (P) 104.76; (R1) 105.05; More...

Intraday bias in USD/JPY remains neutral at this point. Current development suggest that larger fall from 111.71 is still in progress. On the downside, break of 104.00 support will confirm this case and target 101.18 low. This is the mildly favored case for now, as long as 106.10 resistance holds.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 104.61; (P) 104.76; (R1) 105.05; More...

Intraday bias in USD/JPY is turned neutral with 4 hour MACD crossed above signal line. Current development suggest that larger fall from 111.71 is still in progress. On the downside, break of 104.00 support will confirm this case and target 101.18 low. This is the mildly favored case for now, as long as 106.10 resistance holds.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.