Daily Pivots: (S1) 142.15; (P) 142.66; (R1) 143.30; More…

No change in USD/JPY for now despite today’s strong recovery. Upside should be limited below 156.48 resistance to bring another decline. Firm break of 140.94 will resume the whole fall from 151.89. Next target will be next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 142.15; (P) 142.66; (R1) 143.30; More…

While USD/JPY’s recovery from 140.94 extends higher today, outlook is unchanged. Upside of recovery should be limited well below 146.58 resistance to bring another decline. On the downside, break of 140.94 will resume the fall from 151.89 to next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 141.57; (P) 142.02; (R1) 142.61; More…

USD/JPY is still extending consolidation from 140.95 and intraday bias remains neutral. Stronger recovery cannot be ruled out. But upside should be limited well below 146.58 resistance to bring another decline. On the downside, break of 140.94 will resume the fall from 151.89 to next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 141.57; (P) 142.02; (R1) 142.61; More…

Intraday bias in USD/JPY remains neutral as consolidation from 140.94 is extending. Stronger recovery cannot be ruled out. But upside should be limited well below 146.58 resistance to bring another decline. On the downside, break of 140.94 will resume the fall from 151.89 to next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Despite much volatility last week, USD/JPY’s fall from 151.89 is still in progress. But as a temporary low was formed at 140.94, initial bias is neutral this week first for consolidations. Upside should be limited well below 146.58 resistance to bring another decline. Break of 140.94 will target next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

In the long term picture, as long as 125.85 resistance turned support holds (2015 high), up trend from 75.56 (2011 low) is still in favor to continue through 151.93 (2022 high) at a later stage.

Daily Pivots: (S1) 140.92; (P) 141.92; (R1) 142.87; More…

Intraday bias in USD/JPY remains mildly on the downside for the moment. Current decline from 151.89 should target next fibonacci level at 136.63. On the upside, above 142.91 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 146.58 resistance to bring another decline.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 140.92; (P) 141.92; (R1) 142.87; More…

USD/JPY’s fall is still in progress and intraday bias stays on the downside. Current decline from 151.89 should target next fibonacci level at 136.63. On the upside, above 142.91 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 146.58 resistance to bring another decline.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 144.74; (P) 145.47; (R1) 146.19; More…

Intraday bias in USD/JPY remains on the downside at this point. Current fall from 151.89 is in progress for next fibonacci level at 136.63. On the upside, above 142.91 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 146.58 resistance to bring another decline.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 144.74; (P) 145.47; (R1) 146.19; More…

USD/JPY’s decline from 151.89 resumed by breaking through 141.59 support. Intraday bias is back on the downside. Further fall should be seen to next fibonacci level at 136.63. On the upside, above 142.91 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 146.58 resistance to bring another decline.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 144.74; (P) 145.47; (R1) 146.19; More…

Intraday bias in USD/JPY remains neutral, and outlook stays bearish with 147.14 support turned resistance intact. On the downside, break of 144.72 minor support will suggest that rebound from 141.59 has completed at 146.58. Intraday bias will then be back on the downside for retesting 141.59 low. However, decisive break of 147.14 will dampen the bearish view, and bring stronger rally back towards 149.56/151.89 resistance zone.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 144.74; (P) 145.47; (R1) 146.19; More…

Intraday bias in USD/JPY remains neutral at this point. Outlook also stays bearish with 147.14 support turned resistance holds. On the downside, 144.72 minor support will suggest that rebound from 141.59 has completed at 146.58. Intraday bias will then be back on the downside for retesting 141.59 low. However, decisive break of 147.14 will dampen the bearish view, and bring stronger rally back towards 149.56/151.89 resistance zone.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 145.12; (P) 145.85; (R1) 146.89; More…

Intraday bias in USD/JPY stays neutral for the moment. On the downside, firm break of 144.80 minor support will suggest that rebound from 141.59 has completed at 146.58, after rejection by 55 4H EMA. Intraday bias will then be back on the downside for retesting 141.59 low. Overall outlook will stay bearish as long as 147.14 support turned resistance holds.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 145.12; (P) 145.85; (R1) 146.89; More…

Intraday bias in USD/JPY is turned neutral first with current retreat. Break of 144.80 minor support will suggest that rebound from 141.59 has completed at 146.58, after rejection by 55 4H EMA. Intraday bias will then be back on the downside for retesting 141.59 low. Overall outlook will stay bearish as long as 147.14 support turned resistance holds.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 143.18; (P) 144.20; (R1) 145.89; More…

While USD/JPY’s rebound from 141.59 is strong, outlook is unchanged for the moment. Upside should be limited be 147.14 support turned resistance. On the downside, below 144.80 minor support will turn bias to the downside for retesting 141.59. Break of 141.59 and sustained trading below 142.45 fibonacci level will pave the way to next fibonacci level at 136.63. However, firm break 147.14 will dampen the bearish view, and bring stronger rally to 149.56 resistance and above.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 143.18; (P) 144.20; (R1) 145.89; More…

USD/JPY’s recovery from 141.59 continues today, and further rally could be seen. But upside should be limited below 147.14 support turned resistance. On the downside, below 143.75 minor support will turn bias to the downside for retesting 141.59. Break of 141.59 and sustained trading below 142.45 fibonacci level will pave the way to next fibonacci level at 136.63.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

USD/JPY’s fall from 151.89 accelerated to as low as 141.59 last week, but recovered after drawing support from 142.45 fibonacci level. Initial bias remains neutral this week for consolidations first. But recovery should be limited below 147.14 support turned resistance to bring another fall. On the downside, break of 141.59 and sustained trading below 142.45 fibonacci level will pave the way to next fibonacci level at 136.63.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

In the long term picture, as long as 125.85 resistance turned support holds (2015 high), up trend from 75.56 (2011 low) is still in favor to continue through 151.93 (2022 high) at a later stage.

Daily Pivots: (S1) 141.43; (P) 144.38; (R1) 147.10; More…

Intraday bias in USD/JPY is turned neutral wit h break of 144.53 minor resistance and some consolidations would be seen. But recovery should be limited below 147.14 support turned resistance to bring another fall. On the downside, break of 141.59 and sustained trading below 142.45 fibonacci level will pave the way to next fibonacci level at 136.63.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 141.43; (P) 144.38; (R1) 147.10; More…

USD/JPY recovered after breaching 142.45 fibonacci level, but there is no clear sign of bottoming yet. Intraday bias stays on the downside, sustained trading below 142.45 will pave the way to next fibonacci level at 136.63. On the upside, break of 144.53 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 147.14 support turned resistance to bring another fall.

In the bigger picture, current fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. This will now remain the favored as long as 147.14 support turned resistance holds.

Daily Pivots: (S1) 146.97; (P) 147.23; (R1) 147.57; More…

USD/JPY’s decline accelerates to as low as 144.53 so far and there is no sign of bottoming yet. Intraday bias remains on the downside. Sustained trading below 145.06 will carry larger bearish implication and target 142.45 fibonacci level next. On the upside, break of 146.22 minor resistance will turn intraday bias neutral and bring consolidations first.

In the bigger picture, rise from 127.20 (2023 low) is seen as the second leg of the pattern from 151.93 (2022 high). Decisive break of 145.06 resistance turned support will confirm that this second leg has completed, after rejection by 151.93. Deeper fall would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. Nevertheless strong bounce from 145.06 will retain medium term bullishness for another test on 151.93 at a later stage.

Daily Pivots: (S1) 146.97; (P) 147.23; (R1) 147.57; More…

USD/JPY’s fall from 151.89 resumed by breaking through 146.22 today. Intraday bias is back on the downside for 145.06 key support. Decisive break there will carry larger bearish implication and target 142.45 fibonacci level next. On the upside, break of 147.49 minor resistance will turn intraday bias neutral and bring consolidations first.

In the bigger picture, rise from 127.20 (2023 low) is seen as the second leg of the pattern from 151.93 (2022 high). Decisive break of 145.06 resistance turned support will confirm that this second leg has completed, after rejection by 151.93. Deeper fall would be seen through 38.2% retracement of 127.20 to 151.89 at 142.45 to 61.8% retracement at 136.63. Nevertheless strong bounce from 145.06 will retain medium term bullishness for another test on 151.93 at a later stage.