Daily Pivots: (S1) 105.52; (P) 107.01; (R1) 109.51; More..

With 104.50 minor support intact, further rise is in favor in USD/JPY. Sustained break of 61.8% retracement of 112.22 to 101.18 at 108.00 will target 112.22 resistance next. On the downside, break of 104.50 will turn intraday bias back to the downside for retesting 101.18 low instead.

In the bigger picture, fall from 118.65 (Dec. 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound. However, break of 112.22 will be a strong sign on medium term bullish reversal.

USD/JPY’ dived to 101.18 initially last week but reversed from there. Initial bias remains on the upside this week. Sustained break of 61.8% retracement of 112.22 to 101.18 at 108.00 will target 112.22 resistance next. On the downside, break of 105.91 will turn intraday bias back to the downside for retesting 101.18 low instead.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound. However, break of 112.22 will be a strong sign on medium term bullish reversal.

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) 103.14; (P) 104.62; (R1) 106.15; More..

Intraday bias in USD/JPY is mildly on the upside a corrective rise from 101.18 is in progress. At this point, we’d expect strong resistance from 61.8% retracement of 112.22 to 101.18 at 108.00 to limit upside. On the downside, break of 103.07 minor support will suggest the recovery is completed and turn bias to the downside for retesting 101.18 support. However, sustained break of 108.00 will bring retest of 112.22 resistance.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 103.14; (P) 104.62; (R1) 106.15; More..

USD/JPY’s corrective rise from from 101.18 is still in progress. It could extend to 61.8% retracement of 112.22 to 101.18 at 108.00 before completion. On the downside, break of 103.07 minor support will suggest the recovery is completed and turn bias to the downside for retesting 101.18 support.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 103.82; (P) 104.74; (R1) 105.38; More..

USD/JPY recovered after hitting 103.07 and intraday bias is turned neutral first. Break of 103.07 will bring retest of 101.18. Break will resume larger down trend to 98.97 support next. On the upside, break of 105.91 will extend the corrective rise to 61.8% retracement of 112.22 to 101.18 at 108.00 instead.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 103.82; (P) 104.74; (R1) 105.38; More..

Breach of 103.22 minor support suggests that recovery form 101.18 has completed at 105.91. Intraday bias is turned back to the downside for 101.18 low. Break will resume larger down trend to 98.97 support next. On the upside, break of 105.91 will extend the corrective rise to 61.8% retracement of 112.22 to 101.18 at 108.00 instead.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 103.11; (P) 104.51; (R1) 107.01; More..

No change in USD/JPY’s outlook as we’d still expect strong resistance around 38.2% retracement of 112.22 to 101.18 at 105.39 to complete the corrective recovery from 101.18. Break of 103.22 minor support will turn bias to the downside for retesting 101.18. Nevertheless, firm break of 105.39 will bring stronger rebound to 61.8% retracement at 108.00.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 103.11; (P) 104.51; (R1) 107.01; More..

At this point, we’d still expect strong resistance around 38.2% retracement of 112.22 to 101.18 at 105.39 to complete the corrective recovery from 101.18. Break of 103.22 minor support will turn bias to the downside for retesting 101.18. Nevertheless, firm break of 105.39 will bring stronger rebound to 61.8% retracement at 108.00.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 100.88; (P) 102.74; (R1) 104.29; More..

Intraday bias in USD/JPY remains neutral for consolidation above 101.18 temporary low. Upside should be limited by 38.2% retracement of 112.22 to 101.18 at 105.39. On the downside, break of 101.18 will resume larger down rend to next key support level at 98.97. Though, firm break of 105.39 will bring stronger rebound to 61.8% retracement at 108.00.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 100.88; (P) 102.74; (R1) 104.29; More..

A temporary low is in place at 101.18 in USD/JPY with today’s recovery. Intraday bias is turned neutral for consolidations first. Upside should be limited by 38.2% retracement of 112.22 to 101.18 at 105.39. On the downside, break of 101.18 will resume larger down rend to next key support level at 98.97. Though, firm break of 105.39 will bring stronger rebound to 61.8% retracement at 108.00.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 104.79; (P) 105.56; (R1) 106.13; More..

Intraday bias in USD/JPY remains on the downside at this point. Current down trend should target next key support level at 98.97. On the upside, above 104.99 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 112.22 resistance to bring fall resumption.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

Daily Pivots: (S1) 104.79; (P) 105.56; (R1) 106.13; More..

USD/JPY dives to as low as 101.54 today and the strong break of 104.45 confirms down trend resumption. Intraday bias stays on the downside for next key support level at 98.97. On the upside, above 104.99 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 112.22 resistance to bring fall resumption.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

USD/JPY dropped to as low as 104.99 last week as fall from 112.22 accelerated. Initial bias remains on the downside this week for 104.45 low. Decisive break there will resume larger fall from 118.65. On the upside, break of 106.84 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, fall from 118.65 (Dec 2016) is still in progress. It’s seen as part of a larger consolidative pattern from 125.85 (2015 high). Such decline could could extend through 98.97 (2016 low). For now, risk will remain on the downside as long as 112.22 resistance holds, even in case of rebound.

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) 105.49; (P) 106.62; (R1) 107.26; More..

USD/JPY’s decline continues to accelerate downwards and hits as low as 104.99 so far. Intraday bias remains on the downside for retesting 104.45 low. Firm break there will resume larger fall from 118.65. On the upside, break of 106.84 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low to 98.97 key support (2016 low). Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.

Daily Pivots: (S1) 105.49; (P) 106.62; (R1) 107.26; More..

USD/JPY’s fall from 112.22 extends to as low as 105.75 so far today. Intraday bias remains on the downside for retesting 104.45 low. Firm break there will resume larger fall from 118.65. On the upside, break of 107.74 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low to 98.97 key support (2016 low). Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.

Daily Pivots: (S1) 107.04; (P) 107.36; (R1) 107.88; More..

USD/JPY’s fall continues today and intraday bias stays on the downside. . As noted before, whole rise form 104.45 has completed after rejection by 112.40 resistance. Fall from 112.22 should target a test on 104.45 low. On the upside, above 107.74 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low. Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.

Daily Pivots: (S1) 107.04; (P) 107.36; (R1) 107.88; More..

No change in USD/JPY’s outlook as fall from 112.22 is in progress. As noted before, whole rise form 104.45 has completed after rejection by 112.40 resistance. Fall from 112.22 should target a test on 104.45 low. On the upside, above 108.57 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low. Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.

Daily Pivots: (S1) 106.52; (P) 107.53; (R1) 108.11; More..

Intraday bias in USD/JPY remains on the downside at this point. As noted before, whole rise form 104.45 has completed after rejection by 112.40 resistance. Fall from 112.22 should target a test on 104.45 low. On the upside, above 108.57 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low. Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.

Daily Pivots: (S1) 106.52; (P) 107.53; (R1) 108.11; More..

USD/JPY’s fall resumed after brief consolidation and hits as low as 106.48 so far. Intraday bias is back on the downside. As noted before, whole rise form 104.45 has completed after rejection by 112.40 resistance. Fall from 112.22 should target a test on 104.45 low. On the upside, above 108.57 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low. Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.

Daily Pivots: (S1) 107.62; (P) 108.10; (R1) 109.82; More..

Intraday bias in USD/JPY remains neutral for consolidation above 107.36 temporary low. Another recovery cannot be ruled out. But upside should be limited below 109.89 minor resistance to bring another decline. As noted before, whole rise form 104.45 has completed after rejection by 112.40 resistance. Break of 107.36 will target a test on 104.45 low.

In the bigger picture, current steep decline and rejection by 112.40 resistance mixes up the medium term outlook again. Sustained break of 108.30 support will argue that larger fall from 118.65 (Dec 2016) hasn’t completed. Further fall could be seen through 104.45 low. Nevertheless, break of 112.40 resistance will revive the case of bullish reversal and target 114.54 key resistance for confirmation.