Daily Pivots: (S1) 108.93; (P) 109.39; (R1) 109.78; More…

USD/JPY dropped to as low as 109.02 but quickly recovered. Still, with 110.04 resistance intact, further decline is expected. As noted before, whole rebound from 104.69 has completed at 112.40 already. Current fall from 112.40 should extend to retest 104.69 low. Nevertheless, break of 110.04 minor resistance will indicate short term bottom. Lengthier consolidation could be seen before another decline.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Currently development suggests that rebound from 104.69 is only a corrective move. And fall from 118.65 is not completed yet. Decisive break of 104.69 will extend the down trend towards 98.97 support (2016 low). For now, we’d expect strong support above there to bring rebound.

Daily Pivots: (S1) 109.60; (P) 109.82; (R1) 110.18; More…

USD/JPY’s fall resumes after brief consolidation and intraday bias is back on the downside. Firm break of 109.71 confirmed completion of rebound from 104.69, on bearish divergence condition in daily MACD. Deeper decline should now be seen back to retest 104.69 low. On the downside, break of 110.04 minor resistance will turn intraday bias neutral and bring consolidations, before staging another decline.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Currently development suggests that rebound from 104.69 is only a corrective move. And fall from 118.65 is not completed yet. Decisive break of 104.69 will extend the down trend towards 98.97 support (2016 low). For now, we’d expect strong support above there to bring rebound.

Daily Pivots: (S1) 109.60; (P) 109.82; (R1) 110.18; More…

Intraday bias in USD/JPY remains neutral for consolidation above 109.47 temporary low. More sideway trading could be seen first. In case of stronger recovery, upside should be limited below 110.95 resistance to bring fall resumption. On the downside, break of 109.47 and sustained trading below 109.72 key support will confirm completion of rebound from 104.69 at 112.40 on bearish divergence condition in daily MACD. Deeper decline should then be seen back to retest 104.69 low.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Thus, there is no confirmation of trend reversal yet. Sustained break of 109.71 will argue that rebound from 104.69 is completed. And the down trend from 118.65 is still in progress. But at this stage, in case of break of 104.69, we’d expect strong support above 98.9 (2016 low) to contain downside an bring rebound.

USD/JPY dropped further to as low as 109.47 last week but then formed a temporary low there and turned sideway. Initial bias is turned neutral this week for some consolidations first. On the downside, break of 109.47 and sustained trading below 109.72 key support will confirm completion of rebound from 104.69 at 112.40 on bearish divergence condition in daily MACD. Deeper decline should then be seen back to retest 104.69 low. For now, this will remain the favored case as long as 110.95 resistance holds.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Thus, there is no confirmation of trend reversal yet. Sustained break of 109.71 will argue that rebound from 104.69 is completed. And the down trend from 118.65 is still in progress. But at this stage, in case of break of 104.69, we’d expect strong support above 98.9 (2016 low) to contain downside an 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) 109.45; (P) 109.78; (R1) 110.10; More…

With 110.28 minor support intact, intraday bias in USD/JPY remains on the downside despite diminishing downside momentum. Sustained break of 109.72 key support will confirm completion of rebound from 104.69 at 112.40 on bearish divergence condition in daily MACD. Deeper decline should then be seen back to retest 104.69 low. On the upside, though, rebound from current level and break of 110.28 minor resistance will mix up near term outlook. Intraday bias will be turned neutral in this case first.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Thus, there is no confirmation of trend reversal yet. Sustained break of 109.71 will argue that rebound from 104.69 is completed. And the down trend from 118.65 is still in progress. But at this stage, in case of break of 104.69, we’d expect strong support above 98.9 (2016 low) to contain downside an bring rebound.

Daily Pivots: (S1) 109.45; (P) 109.78; (R1) 110.10; More…

USD/JPY is losing some downside momentum, as seen is 4 hour MACD, as it’s pressing 109.72 key support. Intraday bias stays on the downside as long as 110.28 minor resistance holds. Sustained break of 109.72 key support will confirm completion of rebound from 104.69 at 112.40 on bearish divergence condition in daily MACD. Deeper decline should then be seen back to retest 104.69 low. On the upside, though, rebound from current level and break of 110.28 minor resistance will mix up near term outlook. Intraday bias will be turned neutral in this case first.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Thus, there is no confirmation of trend reversal yet. Sustained break of 109.71 will argue that rebound from 104.69 is completed. And the down trend from 118.65 is still in progress. But at this stage, in case of break of 104.69, we’d expect strong support above 98.9 (2016 low) to contain downside an bring rebound.

Daily Pivots: (S1) 109.90; (P) 110.10; (R1) 110.32; More…

USD/PY dips further to 109.60 so far today and intraday bias stays on the downside. Sustained break of 109.71 key support will confirm completion of rebound from 104.69 at 112.40 on bearish divergence condition in daily MACD. Deeper decline should then be seen back to retest 104.69 low. On the upside, though, rebound from current level and break of 110.28 minor resistance will mix up near term outlook. Intraday bias will be turned neutral in this case first.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Thus, there is no confirmation of trend reversal yet. Sustained break of 109.71 will argue that rebound from 104.69 is completed. And the down trend from 118.65 is still in progress. But at this stage, in case of break of 104.69, we’d expect strong support above 98.9 (2016 low) to contain downside an bring rebound.

Daily Pivots: (S1) 109.90; (P) 110.10; (R1) 110.32; More…

Outlook in USD/JPY remains unchanged for the moment. Intraday bias stays on the downside for 109.71 support. As noted before, rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Decisive break of 109.71 will confirm this bearish case and target retesting 104.69 low. On the upside, break of 110.95 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

Daily Pivots: (S1) 109.98; (P) 110.43; (R1) 110.70; More…

Intraday bias in USD/JPY remains on the downside for 109.71 support. As noted before, rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Decisive break of 109.71 will confirm this bearish case and target retesting 104.69 low. On the upside, break of 110.95 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

Daily Pivots: (S1) 109.98; (P) 110.43; (R1) 110.70; More…

USD/JPY drops sharply to as low as 109.90 so far today. Intraday bias remains on the downside for 109.71 support next. As noted before, rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Decisive break of 109.71 will confirm this bearish case and target retesting 104.69 low. On the upside, break of 110.95 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

Daily Pivots: (S1) 110.43; (P) 110.70; (R1) 111.13; More…

No change in USD/JPY’s outlook and intraday bias remains on the downside. Current fall from 112.40 should extend to 109.71 support. As noted before, rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Decisive break of 109.71 will confirm this bearish case and target retesting 104.69 low. On the upside, break of 111.70 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

Daily Pivots: (S1) 110.43; (P) 110.70; (R1) 111.13; More…

At this point, intraday bias in USD/JPY stays on the downside despite mild recovery. Current decline from 112.40 is still in progress for 109.71 support. As noted before, rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Decisive break of 109.71 will confirm this bearish case and target retesting 104.69 low. On the upside, break of 111.70 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

Daily Pivots: (S1) 110.88; (P) 111.29; (R1) 111.52; More…

Intraday bias in USD/JPY remains on the downside at this point. Fall from 112.40 is in progress for 109.71 support next. Rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Decisive break of 109.71 will confirm this bearish case and targets retesting 104.69 low. On the upside, break of 111.70 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

Daily Pivots: (S1) 110.88; (P) 111.29; (R1) 111.52; More…

USD/JPY drops sharply to as low as 110.28 so far as fall from 112.40 accelerates. Break of 110.84 support adds to the case of bearish reversal. That is, whole rebound from 104.69 has completed at 112.40 on bearish divergence condition in daily MACD. Intraday bias is now on the downside for 109.71 support. Decisive break will confirm this bearish case and targets retesting 104.69 low. On the upside, break of 111.70 resistance is needed to confirm completion of the fall. Otherwise, outlook will now remain cautiously bearish in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. However, sustained break of 109.71 will raise the chance that fall from 118.65 is still in progress for another low below 104.62.

USD/JPY gyrated lower last week but downside momentum was weak so far. Downside was also contained above 110.84 support. Initial bias remains neutral this week first. Nevertheless, considering bearish divergence condition in daily MACD, risks remain on the downside. Break of 110.84 support will add to the case of bearish reversal and target 109.71 support and below. On the upside, above 111.70 minor resistance will turn bias back to the upside for 112.40 instead.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.

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) 111.34; (P) 111.51; (R1) 111.67; More…

Intraday bias in USD/JPY remains neutral and outlook remains unchanged. Considering bearish divergence condition in daily MACD, risks remain on the downside as long as 112.40 resistance holds. On the downside, decisive break of 110.84 support will add to the case of bearish reversal and target 109.71 support and below. On the upside, firm break of 112.40 resistance will resume the rise from 104.69 instead.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.

Daily Pivots: (S1) 111.34; (P) 111.51; (R1) 111.67; More…

Intraday bias in USD/JPY remains neutral for the moment. Considering bearish divergence condition in daily MACD, risks remain on the downside as long as 112.40 resistance holds. On the downside, decisive break of 110.84 support will add to the case of bearish reversal and target 109.71 support and below. On the upside, firm break of 112.40 resistance will resume the rise from 104.69 instead.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.

Daily Pivots: (S1) 111.09; (P) 111.35; (R1) 111.65; More…

Intraday bias in USD/JPY remains neutral at this point. Considering bearish divergence condition in daily MACD, risks remain on the downside as long as 112.40 resistance holds. On the downside, decisive break of 110.84 support will add to the case of bearish reversal and target 109.71 support and below. On the upside, firm break of 112.40 resistance will resume the rise from 104.69 instead.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.

Daily Pivots: (S1) 111.09; (P) 111.35; (R1) 111.65; More…

USD/JPY recovered ahead of 110.84 support and intraday bias is turned neutral again. Considering bearish divergence condition in daily MACD, risks remain on the downside as long as 112.40 resistance holds. On the downside, decisive break of 110.84 support will add to the case of bearish reversal and target 109.71 support and below. On the upside, firm break of 112.40 resistance will resume the rise from 104.69 instead.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.

Daily Pivots: (S1) 111.19; (P) 111.46; (R1) 111.71; More…

Intraday bias in USD/JPY remains mildly on the downside as fall from 112.40 is targeting 110.84 support. Decisive of 110.84 will add to the case of bearish reversal and target 109.71 support and below. In any case, break of 112.40 is needed to confirm rise resumption. Otherwise, risk will stay mildly on the downside in case of recovery.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.