Daily Pivots: (S1) 109.67; (P) 109.95; (R1) 110.13; More..

Intraday bias in USD/JPY stays neutral first. On the downside, break of 109.76 should confirm short term topping at 110.28. Intraday bias will be turned to the downside for 55 day EMA (now at 109.10). On the upside, break of 110.28 will resume larger rise from 104.45 to 100% projection of 106.48 to 109.72 from 107.65 at 110.89.

In the bigger picture, USD/JPY is staying in long term falling channel that started at 118.65 (Dec. 2016). There is no clear indication of trend reversal yet. Hence, rise from 104.45 is seen as a correction and down trend could still extend through 104.45 low. However, sustained break of the channel resistance will be an important sign of bullish reversal and target 114.54 resistance for confirmation.

Daily Pivots: (S1) 110.51; (P) 110.71; (R1) 110.87; More…

Intraday bias in USD/JPY remains neutral for the moment. On the downside, break of 110.00 resistance turned support will suggest rejection by 61.8% retracement of 114.54 to 104.69 at 110.77 and the rebound from 104.69 has likely completed. Intraday bias will be turned back to the downside for 108.49 support for confirmation. Nevertheless, break of 111.13 should confirm resumption of rise from 104.69 for 114.54 resistance.

In the bigger picture, while the rebound from 104.69 was stronger than expected, it’s struggle to get rid of 55 day EMA completely. Outlook is turned mixed first. On the downside, break of 108.49 support will revive that case that such rebound was a correction. And, larger down trend is still in progress for another low below 104.62. But sustained trading above 55 day EMA will turn focus to 114.54. Decisive break there will confirmation completion of the decline from 118.65 (2016 high).

Daily Pivots: (S1) 109.65; (P) 109.92; (R1) 110.34; More…

USD/JPY is staying in consolidation from 109.02 temporary low and intraday bias remains neutral. Stronger recovery cannot ruled out. But upside should be limited by 55 day EMA (now at 110.85) to bring another fall. On the downside, break of 109.02 will extend the decline from 112.40 to retest 104.69 low.

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) 105.48; (P) 105.78; (R1) 106.11; More...

Intraday bias in USD/JPY remains neutral for the moment and some more sideway trading could be seen. . On the upside, break of 107.05 will revive the case of near term reversal and bring stronger rally. On the downside, break of 105.10 will target a test on 104.18. Break there will resume whole decline from 111.71.

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) 112.80; (P) 113.03; (R1) 113.41; More..

USD/JPY recovered to 113.24 but was rejected by 4 hour 55 EMA and drops sharply. As it’s staying above 112.57 temporary low, intraday bias stays neutral. On the downside, break of 112.57 will target 112.30 first. Break there will extend the fall from 114.20 to 111.37 support and below. On the upside, above 113.24 will turn bias to the upside for 114.03 first. 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. Larger rise from 104.62 is expected to resume later.

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) 112.17; (P) 112.38; (R1) 112.71; More…

Intraday bias in USD/JPY remains on the upside for 113.17 resistance. Decisive break there will resume whole rally from 104.62 and target 114.73 resistance next. On the downside, below 112.38 minor support will turn intraday bias neutral first. But near term outlook will now stay cautiously bullish as long as 111.82 resistance turned support holds.

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 109.36 support holds. However, decisive break of 109.36 will mix up the outlook again. And deeper fall should be seen back to 61.8% retracement of 104.62 to 113.17 at 107.88 and below.

Daily Pivots: (S1) 111.66; (P) 111.85; (R1) 112.04; More…

USD/JPY is staying in tight range for the moment and intraday bias stays neutral first. Focus remains on 112.13 key resistance. Decisive break there will resume whole rise from 104.69 for 100 % projection of 109.71 to 111.82 and 110.84 at 112.95 first. On the downside, firm break of 111.69 minor support will turn bias to the downside for 110.84 support. Break will bring deeper fall back to 109.71 support.

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) 113.64; (P) 113.88; (R1) 114.28; More..

Intraday bias in USD/JPY remains on the upside as rise from 111.37 is in progress for 114.54 resistance. At this point, we’d be cautious on strong resistance from there to limit upside to bring another fall to extend the consolidation pattern from 114.54. On the downside, break of 112.94 minor support will argue that the rebound has completed. And, in that case, the corrective pattern from 114.54 could have started the third leg for 111.37 support and possibly below.

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) 108.59; (P) 108.95; (R1) 109.15; More…

Intraday bias in USD/JPY remains neutral and more sideway trading could be seen. With 108.34 minor support intact, further rise is mildly in favor. Break of 109.77 will resume the rebound from 107.47 to retest 110.95 high. On the downside, break of 108.34 will turn bias back to the downside for 107.47 support and below instead.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

Daily Pivots: (S1) 110.01; (P) 110.18; (R1) 110.36; More…

Intraday bias in USD/JPY remains neutral with focus on 110.133 resistance. Sustained break there will argue that the choppy fall from 111.65 has completed, and turn bias back to the upside for retesting this high. Rejection by 110.33 will maintain near term bearishness. Break of 109.05 will target 38.2% retracement of 102.58 to 111.65 at 108.18.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. Sustained trading below 55 day EMA would argue that the pattern from 101.18 is starting another falling leg, that could head back to 102.58 support and below. For now, outlook won’t turn bullish as long as 111.71 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 108.30; (P) 108.56; (R1) 108.77; More…

USD/JPY is staying in consolidation from 107.81 and intraday bias remains neutral first. Upside of recovery should be limited by 109.02 support turned resistance to bring fall resumption. On the downside, sustained break of 61.8% retracement of 104.69 to 112.40 at 107.63 will pave the way back to 104.62/9 key support zone. Though, break of 109.02 support turned resistance will indicate short term bottoming and bring lengthier consolidations first.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying indicate 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) 104.24; (P) 104.69; (R1) 105.01; More...

Intraday bias in USD/JPY stays neutral for the moment. Overall, with the pair staying below 55 day EMA and falling channel, decline from 111.71 is still in progress. Retest of 103.17 low should be seen in next fall. Nevertheless, on the upside, break of 105.67 will target 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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 112.13; (P) 112.85; (R1) 113.25; More…

USD/JPY’s pull back from 113.74 extended lower but it’s kept well above 111.98 minor support. Intraday bias remains neutral and such decline is still seen as a correction. As noted before, as long as 111.98 support holds, further rally is expected in the pair. On the upside, above 113.68 will extend the rise from 110.83 to 114.73 resistance first. Decisive break there will resume whole rise from 107.31. More importantly, that will confirm completion of medium term correction from 118.65 at 107.31. In that case, retest of 118.65 should be seen next. However, break of 111.98 support will extend the correction from 114.73 with another fall, possibly to 61.8% retracement of 107.31 to 114.73 at 110.14 before completion.

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

Daily Pivots: (S1) 113.05; (P) 113.43; (R1) 113.62; More…

Intraday bias in USD/JPY remains neutral for consolidation below 113.79 temporary top. Downside of retreat should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, break of 113.79 will extend the larger up trend from 102.58, and target 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next.

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 108.71 support hold, even in case of pull back.

Daily Pivots: (S1) 113.51; (P) 113.75; (R1) 114.12; More…

USD/JPY’s pull back from 114.73 extends lower today. But still, it’s staying above 112.95 support. Near term outlook remains bullish and further rally is expected. Sustained trading above 114.49 key resistance will pave the way to retest 118.65 high. However, break of 112.95 support will now indicate rejection from 114.49 and turn bias to the downside for 111.64 support and below.

In the bigger picture, medium term rise from 98.97 (2016 low) is not completed yet. It should resume after corrective fall from 118.65 completes. Break of 114.49 resistance will likely resume the rise to 61.8% projection of 98.97 to 118.65 from 107.31 at 119.47 first. Firm break there will pave the way to 100% projection at 126.99. This will be the key level to decide whether long term up trend is resuming.

Daily Pivots: (S1) 108.70; (P) 108.86; (R1) 109.10; More…

Range trading continues in USD/JPY and intraday bias remains neutral. On the upside, above 109.77 will resume the rebound from 107.47 to retest 110.95 high. On the downside, break of 108.34 will turn bias back to the downside for 107.47 support and below.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

Daily Pivots: (S1) 113.75; (P) 113.99; (R1) 114.25; More…

USD/JPY is still extending the consolidation from 114.69 and intraday bias remains neutral first. 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) 113.12; (P) 113.56; (R1) 114.35; More…

Intraday bias in USD/JPY stays mildly on the upside for retesting 114.69 high. Sustained break there will resume larger up trend for 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, in case of another fall, we’d continue to expect downside to 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) 115.61; (P) 116.39; (R1) 117.72; More…

Intraday bias in USD/JPY remains neutral as consolidation from 118.65 continues. Outlook stays bullish with 114.76 intact and further rise is expected. Above 118.65 will extend the whole rise from 98.97 to 125.85 key resistance next. However, sustained break of 114.76 will confirm short term topping and bring deeper pull back to 55 day EMA (now at 112.96) and possibly below.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Rejection from 125.05 and below will extend the consolidation with another falling leg before up trend resumption.

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Daily Pivots: (S1) 113.25; (P) 113.56; (R1) 113.86; More…

Intraday bias in USD/JPY is mildly on the downside, as corrective fall from 114.69 could extend lower. But downside should be contained above 112.07 resistance turned support to bring rebound. 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.

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.