Daily Pivots: (S1) 107.56; (P) 107.80; (R1) 108.08; More…

Intraday bias in USD/JPY remains neutral at this point, with focus on 107.56 minor support. With 108.80 resistance intact, outlook remains bearish. On the downside, firm break of 107.56 minor support will bring retest of 106.78 low. Break there will extend recent fall from 112.40 to 104.69 low. Nevertheless, sustained break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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) 107.63; (P) 108.06; (R1) 108.34; More…

USD/JPY is still holding above 107.56 minor support and intraday bias remains neutral at this point. Also, with 108.80 resistance intact, outlook remains bearish. On the downside, firm break of 107.56 minor support will bring retest of 106.78 low. Break there will extend recent fall from 112.40 to 104.69 low. Nevertheless, sustained break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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) 107.63; (P) 108.06; (R1) 108.34; More…

Intraday bias in USD/JPY stays neutral for now and with 108.80 resistance intact, outlook remains bearish. On the downside, firm break of 107.56 minor support will bring retest of 106.78 low. Break there will extend recent fall from 112.40 to 104.69 low. Nevertheless, sustained break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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) 108.18; (P) 108.35; (R1) 108.61; More…

Intraday bias in USD/JPY remains neutral at this point. Considering bullish convergence condition in 4 hour MACD, sustained break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance. On the other hand, rejection by 108.80, followed by break of 107.56 will retain near term bearishness. Intraday bias will be turned back to the downside for 106.78 support instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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) 108.18; (P) 108.35; (R1) 108.61; More…

No change in USD/JPY’s outlook. Intraday bias stays neutral with focus on 108.80 resistance. Considering bullish convergence condition in 4 hour MACD, firm break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance. On the other hand, rejection by 108.80, followed by break of 107.56 will retain near term bearishness. Intraday bias will be turned back to the downside for 106.78 support instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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) 107.68; (P) 107.81; (R1) 108.06; More…

Intraday bias in USD/JPY remains neutral with focus on 108.80 resistance. Considering bullish convergence condition in 4 hour MACD, firm break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance. On the other hand, rejection by 108.80, followed by break of 107.56 will retain near term bearishness. Intraday bias will be turned back to the downside for 106.78 support instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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) 107.68; (P) 107.81; (R1) 108.06; More…

USD/JPY rebounds strongly today but stays below 108.80 resistance. Intraday bias remains neutral first. Considering bullish convergence condition in 4 hour MACD, firm break of 108.80 will confirm short term bottoming at 106.78. In this case, stronger rise should be seen back to 110.67 resistance. On the other hand, rejection by 108.80, followed by break of 107.56 will retain near term bearishness. Intraday bias will be turned back to the downside for 106.78 support instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

USD/JPY edged lower to 106.78 last week but recovered since then. Initial bias remains neutral this week first. As long as 108.80 resistance holds, further decline is in favor. Break of 106.78 will resume the fall from 112.40 to retest 104.69 low. On the upside, however, considering bullish convergence condition in 4 hour MACD, break of 108.80 will confirm short term bottoming. Intraday bias will be turned back to the upside for 110.67 resistance next.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

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) 107.57; (P) 107.87; (R1) 108.08; More…

Intraday bias in USD/JPY remains neutral at this point. In case of another recovery, upside should be limited by 108.80 resistance to bring fall resumption. On the downside, break of 106.78 minor support will extend the decline from 112.40 to retest 104.69 low. However, firm break of 108.80 will indicate short term bottoming and turn bias to the upside for 110.67 resistance instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 107.57; (P) 107.87; (R1) 108.08; More…

USD/JPY is staying in consolidation from 106.78 and intraday bias remains neutral. Upside of recovery should be limited by 108.80 resistance to bring fall resumption. On the downside, break of 106.78 minor support will extend the decline from 112.40 to retest 104.69 low. However, firm break of 108.80 will indicate short term bottoming and turn bias to the upside for 110.67 resistance instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 106.82; (P) 107.12; (R1) 107.45; More…

Intraday bias in USD/JPY remains neutral for the moment. With 108.80 resistance intact, near term outlook stays bearish for further decline. On the downside, break of 106.78 minor support will resume from 112.40 to retest 104.69 low. However, firm break of 108.80 will indicate short term bottoming and turn bias to the upside for 110.67 resistance instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 106.82; (P) 107.12; (R1) 107.45; More…

USD/JPY’s recovery from 106.78 extends higher today but stays below 108.80 resistance. Intraday bias remains neutral and near term outlook remains bearish for further decline. On the downside, break of 106.78 minor support will resume from 112.40 to retest 104.69 low. However, firm break of 108.80 will indicate short term bottoming and turn bias to the upside for 110.67 resistance instead.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 106.82; (P) 107.12; (R1) 107.45; More…

USD/JPY recovers further today but stays well below 108.80 resistance. Intraday bias remains neutral and further decline is still expected. On the downside, break of 106.78 temporary low will resume the fall from 112.40 to retest 104.69 low.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 106.82; (P) 107.12; (R1) 107.45; More…

A temporary low is in place at 106.78 in USD/JPY and intraday bias is turned neutral. Some consolidations would be seen first but upside of recovery should be limited buy 108.80 resistance to bring fall resumption. On the downside, break of 106.78 will extend the decline from 112.40 to retest 104.69 low.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 107.19; (P) 107.36; (R1) 107.47; More…

Intraday bias in USD/JPY remains on the downside at this point. Current fall from 112.40 is in progress and should target a test on 104.69 low. On the upside, above 107.73 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 108.80 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 107.19; (P) 107.36; (R1) 107.47; More…

USD/JPY’s decline resumed after brief consolidations and reaches as low as 106.78 so far. Intraday bias is back on the downside. Current fall from 112.40 should target 104.69 low next. On the upside, above 107.73 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 108.80 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 107.00; (P) 107.36; (R1) 107.68; More…

Intraday bias in USD/JPY remains neutral for consolidation above 107.04 temporary low. Upside should be limited by 108.80 resistance to bring fall resumption. On the downside, break of 107.04 will pave the way to retest 104.69 low. Nevertheless, firm break of 108.80 will indicate short term bottoming and bring stronger rebound back to 110.67 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

Daily Pivots: (S1) 107.00; (P) 107.36; (R1) 107.68; More…

A temporary low is in place at 107.04 with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for some consolidations. But upside should be limited by 108.80 resistance to bring fall resumption. On the downside, break of 107.04 will pave the way to retest 104.69 low. Nevertheless, firm break of 108.80 will indicate short term bottoming and bring stronger rebound back to 110.67 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.

USD/JPY’s decline from 112.40 resumed last week and reached as low as 107.04. Initial bias stays on the downside this week. With 61.8% retracement of 104.69 to 112.40 at 107.63 taken out, further fall should be seen to retest 104.69 low. On the upside, break of 108.80 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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 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) 106.97; (P) 107.55; (R1) 107.90; More…

At this point, intraday bias in USD/JPY remains on the downside. Fall from 112.40 is still in progress. Sustained trading below 61.8% retracement of 104.69 to 112.40 at 107.63 will pave the way back to 104.62/9 key support. On the upside, break of 108.80 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying 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.