Daily Pivots: (S1) 149.91; (P) 150.12; (R1) 150.43; More…

Intraday bias in USD/JPY stays on the upside with 149.84 minors support. Current rally, as part of the whole rise from 127.20, should target 151.93 medium term resistance next. On the downside, below 149.84 minor support will turn intraday bias neutral first, and bring consolidations. But near term outlook will now stay bullish as long as 147.28 support holds, even in case of deep retreat.

In the bigger picture, while rise from 127.20 is strong, it could still be seen as the second leg of the corrective pattern from 151.93 (2022 high). Rejection by 151.93, followed by sustained break of 145.06 resistance turned support will be the first sign that the third leg of the pattern has started. However, sustained break of 151.93 will confirm resumption of long term up trend.

Daily Pivots: (S1) 149.91; (P) 150.34; (R1) 150.85; More…

Intraday bias in USD/JPY remains on the upside for the moment, with 149.85 minor support intact. Current rally, as part of the whole rise from 127.20, should target 151.93 medium term resistance next. On the downside, below 149.84 minor support will turn intraday bias neutral first, and bring consolidations. But near term outlook will now stay bullish as long as 147.28 support holds, even in case of deep retreat.

In the bigger picture, while rise from 127.20 is strong, it could still be seen as the second leg of the corrective pattern from 151.93 (2022 high). Rejection by 151.93, followed by sustained break of 145.06 resistance turned support will be the first sign that the third leg of the pattern has started. However, sustained break of 151.93 will confirm resumption of long term up trend.

Daily Pivots: (S1) 147.34; (P) 148.02; (R1) 149.05; More…

Intraday bias in USD/JPY remains neutral as consolidation from 148.79 is extending. Deeper retreat cannot be ruled out, but further rally is expected as long as 145.97 resistance turned support holds. Corrective fall from 151.89 should have completed at 140.25 already. Break of 148.79 will resume the rise from there for retesting 151.89/93 key resistance zone.

In the bigger picture, stronger than expected rebound from 140.25 dampened the original bearish review. Strong support from 55 W EMA (now at 141.89) is also a medium term bullish sign. Fall from 151.89 could be a correction to rise from 127.20 only. Decisive break of 151.89/93 will confirm resumption of long term up trend. This will now be the favored case as long as 140.25 support holds.

Daily Pivots: (S1) 110.58; (P) 110.78; (R1) 111.04; More…

USD/JPY’s rebound from 109.71 extends today and break of 110.95 suggests that pull back from 112.13 has completed already. Intraday bas is back on the upside for retesting 112.13 first. Decisive break there will resume whole rise from 104.69 to 114.54 key resistance next. On the downside, below 110.53 minor support will turn bias back to the downside for 109.71 and possibly further to 38.2% retracement of 104.69 to 112.13 at 109.28.

In the bigger picture, while the rebound from 104.69 was strong, USD/JPY failed to sustain above 55 week EMA (now at 110.80), and was kept well below 114.54 resistance. Medium term outlook is turned mixed and we’ll wait for the structure of the fall from 112.13 to unveil to make an assessment later. For now, more range trading is expected between 104.69 and 112.13 first.

Daily Pivots: (S1) 111.85; (P) 112.29; (R1) 112.63; More..

Intraday bias in USD/JPY remains neutral at this point. On the upside, above 112.71 will extend the rebound from 111.62 to retest 114.54 high. On the downside, below 111.62 will resume the correction from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

In the bigger picture, corrective fall from 118.65 (2016 high) should have completed with three waves down to 104.62. Decisive break of 114.73 resistance will likely resume whole rally from 98.97 (2016 low) to 100% projection of 98.97 to 118.65 from 104.62 at 124.30, which is reasonably close to 125.85 (2015 high). This will stay as the preferred case as long as 109.76 support holds. However, decisive break of 109.76 will dampen this bullish view and turns outlook mixed again.

Daily Pivots: (S1) 113.22; (P) 113.45; (R1) 113.72; More..

At this point, intraday bias in USD/JPY remains mildly on the downside for further decline. The rebound from 112.30 should have completed at 114.03. Deeper fall would be seen back to 112.30 first. Break there will target 111.37 and possibly below. On the upside, above 114.03 will target a test on 114.54/73 key resistance zone. Overall, price actions from 114.54 are seen as a consolidation pattern. Hence, even in case of deep decline, downside should be contained by 38.2% retracement of 104.62 to 114.54 at 110.75 to bring rebound.

In the bigger picture, corrective fall from 118.65 (2016 high) should have completed with three waves down to 104.62. Decisive break of 114.73 resistance will likely resume whole rally from 98.97 (2016 low) to 100% projection of 98.97 to 118.65 from 104.62 at 124.30, which is reasonably close to 125.85 (2015 high). This will stay as the preferred case as long as 109.76 support holds. However, decisive break of 109.76 will dampen this bullish view and turns outlook mixed again.

Daily Pivots: (S1) 109.27; (P) 109.61; (R1) 110.01; More…

Further rise is mildly in favor in USD/JPY for 110.95 high. Break there will resume larger rally from 102.58. On the downside, break of 108.99 will extend the correction to 108.40 support and below. But downside should be contained by 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.74), will dampen the bullish view and keep medium term outlook neutral first.

Daily Pivots: (S1) 108.30; (P) 108.56; (R1) 108.75; More..

Intraday bias in USD/JPY remain neutral for the moment. With 108.08 minor support intact, consolidation should be relatively brief. On the upside, break of 109.22 will resume recent rally to channel resistance at 110.02 next. Decisive break there will carry larger bullish implications. Break of 108.08 will bring deeper correction. But outlook will stay bullish as long as 106.21 resistance turned support holds.

In the bigger picture, focus is now back on long term channel resistance (now at 110.02). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 144.07; (P) 144.44; (R1) 144.80; More…

No change in USD/JPY’s outlook as consolidation continues below 145.89. Intraday bias remains neutral for the moment. Further rally is expected as long as 139.37 resistance turned support holds. Break of 145.89 will target 147.68 long term resistance. On the downside, however, decisive break of 139.37 will confirm short term topping. Deeper decline would be seen back towards 130.38 support.

In the bigger picture, up trend from 101.18 is still in progress, as part of the whole up trend from 75.56 (2011 low). Further rise should be seen to 147.68 (1998 high). For now, break of 130.38 support is needed to be the first indication of medium term topping. Otherwise, outlook will stay bullish even in case of deep pull back.

Daily Pivots: (S1) 108.59; (P) 108.94; (R1) 109.26; More..

Intraday bias in USD/JPY stays neutral for the moment. With 108.33 minor support intact, further rise is expected. On the upside, break of 109.35 will resume the rally from 102.58 to long term channel resistance at 110.02 next. Decisive break there will carry larger implications. However, on the downside, break of 108.33 will indicate short term topping. Intraday bias will be turned to the downside for correction.

In the bigger picture, focus is now back on long term channel resistance (now at 110.02). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 128.21; (P) 129.31; (R1) 130.07; More…

USD?JPY is still bounded in range above 127.20 and intraday bias stays neutral. On the downside, break of 127.20 will resume the whole decline from 151.93 and target 121.43 fibonacci level. Nevertheless, on the upside, break of 131.56 resistance should confirm short term bottoming, and turn bias back to the upside for stronger rebound to 55 day EMA (now at 133.75) and possibly above.

In the bigger picture, the break of 55 week EMA (now at 131.39) raises the chance of medium term bearish reversal, but that’s not confirmed yet. Strong support could be seen around 61.8% retracement of 102.58 to 151.93 at 121.43 and 38.2% retracement of 75.56 to 151.93 at 122.75 to bring rebound. But break of 131.56 resistance is needed to indicate bottoming first. Otherwise further fall will remain in favor.

Daily Pivots: (S1) 107.16; (P) 107.66; (R1) 107.96; More...

USD/JPY recovers mildly after drawing support from 4 hour 55 EMA, but stays below 108.16 temporary low. Intraday bias remains neutral first. Further rise will remain in favor as long as 106.79 support holds. Above 108.16 will target 109.85 resistance first. Break will argue that larger rebound from 101.18 might be resuming to 112.22 key resistance. On the downside, below 106.79 minor support will dampen the bullish case and turn bias back to the downside for 106.07 instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec2016). 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 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.35; (P) 106.53; (R1) 106.80; More…

Intraday bias in USD/JPY remains neutral as consolidation from 105.04 is still in progress. Near term outlook remains bearish with 107.09 minor resistance intact, and further fall is expected. On the downside, break of 105.04 will resume larger decline from 112.40 to 104.69 low. Break will target 100% projection of 112.40 to 106.78 from 109.31 at 103.69. On the upside, though, break of 107.09 resistance will indicate short term bottoming. In this case, stronger rebound would be seen back to 55 day EMA (now at 107.75).

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress and the pair is staying well inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

Daily Pivots: (S1) 113.56; (P) 113.85; (R1) 114.24; More…

USD/JPY is staying in consolidation from 114.69 and Intraday bias remains neutral. On the upside, firm break of 114.69 will resume the larger up trend to 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. Break of 113.24 will bring deeper pull back, but downside should be contained above 112.07 resistance turned support to bring rebound.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

Daily Pivots: (S1) 114.84; (P) 115.21; (R1) 115.50; More…

USD/JPY’s fall from 115.68 extends lower today but it stays above 114.46 minor support. Intraday bias remains neutral and further rally is in favor. . On the upside, break of 115.68 will target 116.34 high first. Decisive break there will resume larger up trend for 118.65 long term resistance next. On the downside, however, break of 114.46 will extend the corrective pattern from 116.34 with another falling leg through 113.46 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. This will remain the favored case as long as 55 week EMA (now at 111.07) holds.

Daily Pivots: (S1) 136.34; (P) 137.05; (R1) 138.12; More…

Intraday bias in USD/JPY remains on the upside and outlook is unchanged. Current up trend should target 100% projection of 114.40 to 131.34 from 126.35 at 143.29. For now, outlook will remain bullish as long as 134.73 support holds, in case of retreat.

In the bigger picture, current rally is seen as part of the long term up trend from 75.56 (2011 low). Next target is 100% projection of 75.56 (2011 low) to 125.85 (2015 high) from 98.97 at 149.26, which is close to 147.68 (1998 high). This will remain the favored case as long as 126.35 support holds.

Daily Pivots: (S1) 104.52; (P) 104.90; (R1) 105.13; More...

USD/JPY’s decline resumes after brief consolidation and hits as low as 104.18. Intraday bias is back on the downside with focus on 100% projection of 111.71 to 105.98 from 109.85 at 104.12. Firm break there will extend recent fall to 138.2% projection at 101.93 next. On the upside, though, above 105.29 minor resistance will suggest short term bottoming and bring stronger rebound.

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 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 115.05; (P) 115.37; (R1) 115.60; More…

Intraday bias in USD/JPY remains neutral as consolidation from 116.34 could extend further. But downside of retreat should be contained well well above 114.26 resistance turned support to bring rally resumption. On the upside, firm break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

Daily Pivots: (S1) 135.83; (P) 136.37; (R1) 137.13; More…

Intraday bias in USD/JPY remains neutral and outlook is unchanged. On the upside, break of 137.84 resistance will revive the case of short term bottoming at 133.61, and turn bias back to the upside for 55 day EMA (now at 140.89). However, break of 133.61 will resume the decline form 151.93 through 133.07 fibonacci level.

In the bigger picture, price actions from 151.93 medium term could be just a corrective pattern to up trend from 102.58 (2021 low). Strong support from 38.2% retracement of 102.58 to 151.93 at 133.07 and 55 week EMA (now at 131.71) will set the range for such corrective pattern. However, sustained break of 55 week EMA will pave the way to 61.8% retracement at 121.43.

USD/JPY rebounded after hitting 110.18 last week, ahead of 61.8% retracement of 107.31 to 114.73 at 110.14. But such rebound faced strong resistance from 4 hour 55 EMA and retreated. Initial bias is neutral this week first. On the upside, break of 111.47 will affirm the case that correction from 114.73 could have completed with three waves down to 110.18. Intraday bias should then be turned back to the upside for 113.38 resistance for confirmation. However, below 110.18 will extend the correction lower. But we’d again look for bottoming signal in next fall.

In the bigger picture, we’re holding on to the view that correction from 118.65 is completed at 107.31. And medium term rise from 98.97 (2016 low) is going to resume soon. Sustained break of 114.73 should affirm our view and send USD/JPY through 118.65. However, break of 107.31 will dampen this view and extend the medium term fall back to 98.97 low.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 top 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.