Daily Pivots: (S1) 111.27; (P) 111.42; (R1) 111.65; More…

USD/JPY’s rise from 109.71 is still in progress. Intraday bias stays on the upside for 112.13 resistance. Decisive break of 112.13 resistance will resume whole rise from 104.69 to 114.54 key resistance next. On the downside, however, break of 111.18 minor support will argue that rebound from 109.71 might be completed. Intraday bias will be turned 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, 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) 113.75; (P) 113.95; (R1) 114.18; More…

Intraday bias in USD/JPY remains neutral as it’s staying in range of 111.58/114.94. Corrective fall from 118.65 might not be completed yet. But still, in case of another fall, we’d still expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound. On the upside, decisive break of 114.94 will indicate that it’s completed with a double bottom pattern (111.58, 111.68). In such case, intraday bias will be turned to the upside for retesting 118.65.

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 125.85 and below will extend the consolidation with another falling leg before up trend resumption.

Daily Pivots: (S1) 109.77; (P) 109.86; (R1) 110.03; More…

Intraday bias in USD/JPY remains neutral as range trading continues. On the downside, break of 109.10 will target 108.71 support first. Firm break there will resume the decline from 111.65 and target 38.2% retracement of 102.58 to 111.65 at 108.18 next. On the upside, break of 110.79 will resume the rebound from 108.71 to retest 111.65 high.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. The pattern from 101.18 could still extend with another falling leg. Sustained trading below 55 day EMA will bring deeper fall to 107.47 support and below. Nevertheless, strong break of 111.71 resistance will confirm completion of the corrective decline from 118.65 (2016 high). Further rise should then be seen to 114.54 and then 118.65 resistance.

Daily Pivots: (S1) 112.52; (P) 112.96; (R1) 113.78; More…

Intraday bias in USD/JPY remains on the upside at this point. Up trend from 102.58 is in progress and should 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. On the downside, below 112.63 minor support will turn intraday bias neutral and bring consolidation first. But retreat should be contained by 110.81/112.07 support zone to bring rise resumption.

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) 104.06; (P) 104.26; (R1) 104.45; More..

Intraday bias in USD/JPY remains on the upside at this point. Current development argues that whole down trend from 111.71 has completed, on bullish convergence condition in daily MACD. Further rally would be seen to 38.2% retracement of 111.71 to 102.58 at 106.06. On the downside, break of 104.16 minor support will turn intraday bias neutral first.

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 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 110.41; (P) 110.61; (R1) 110.83; More…

USD/JPY’s break of 110.41 support argues that rise from 107.47 has completed at 111.65, after rejection by 111.71 key resistance. Intraday bias is turned back to the downside for 55 day EMA (now at 109.79) first. Sustained break there will suggest that it’s at least correcting the whole rise from 102.58, and targets 38.2% retracement of 102.58 to 111.65 at 108.18. For now, risk will be mildly on the downside as long as 111.65 resistance holds, in case of recovery.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. Though, as notable support was seen from 55 day EMA, rise from 102.58 is mildly in favor to extend higher. Decisive break of 111.71/112.22 resistance will suggest long term bullish reversal. Rise from 101.18 could then target 118.65 resistance (Dec 2016) and above. However, sustained break of 55 day EMA would revive some medium term bearishness, and open up deep fall back towards 102.58 support.

Daily Pivots: (S1) 109.36; (P) 109.62; (R1) 109.84; More…

Break of 110.19 resistance suggests that choppy rise from 107.42 has resumed. Intraday bias in USD/JPY is back on the upside for retesting 110.95 high. Firm break there will resume larger rise from 102.58 to 111.71 resistance next. For now, further rally will remain in favor as long as 109.32 support holds. However, break of 109.32 will turn bias back to the downside for 108.55, and below.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. Though, as notable support was seen from 55 day EMA, rise from 102.58 is mildly in favor to extend higher. Decisive break of 111.71/112.22 resistance will suggest medium term bullish reversal. Rise from 101.18 could then target 118.65 resistance (Dec 2016) and above.

Daily Pivots: (S1) 112.82; (P) 113.01; (R1) 113.14; More...

No change in USD/JPY’s outlook. Intraday bias stays neutral first. . On the downside, break of 112.30 will extend the fall from 114.20 and target 111.37 support. Such decline is seen as the third leg of the consolidation pattern from 114.54. Downside should be contained by 38.2% retracement of 104.62 to 114.54 at 110.75 to bring rebound. On the upside, break of 113.21 will indicate that fall from 114.20 has completed. And, intraday bias will be turned back to the upside for 114.54/73 key resistance zone.

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) 158.95; (P) 159.43; (R1) 160.11; More…

A temporary top should be formed at 159.92 in USD/JPY and intraday bias is turned neutral first. Further rise will remain in favor as long as 157.70 resistance turned support holds. Sustained break of 106.20 and 100% projection of 151.86 to 157.70 from 154.53 at 160.37 will confirm long term up trend resumption, and pave the way to 161.8% projection at 163.97. Nevertheless, firm break of 157.70 will turn bias back to the downside for channel support (now at 156.23) first.

In the bigger picture, there is no sign of long term trend reversal yet. Further rally is expected as long as 150.87 resistance turned support holds. Decisive break of 160.02 will target 100% projection of 127.20 to 151.89 from 140.25 at 164.94.

Daily Pivots: (S1) 106.79; (P) 107.12; (R1) 107.59; More…

Intraday bias in USD/JPY remains neutral for the moment. At this point, we’re still favoring the case that corrective recovery from 104.45 has completed at 108.47. Thus, risk will remain on the downside as long as 108.47 resistance holds. On the downside, break of 106.48 will turn bias back to the downside for retesting 104.45 low. On the upside, break of 108.47 will dampen this view and resume the rebound from 104.45 to 109.31 key resistance.

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. Firm break of 104.69 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. However, firm break of 109.31 will be the first sign of medium term reversal and bring stronger rise to 112.40 resistance for confirmation.

Daily Pivots: (S1) 111.35; (P) 111.75; (R1) 112.11; More…

Intraday bias in USD/JPY is turned neutral as it retreats deeply after hitting 112.14. With 111.24 minor support intact, further rise is still in favor. Above 112.14 will target 113.17 resistance next. Firm break there will resume larger rally from 104.62 for 114.73 key resistance next. On the downside, below 111.24 minor support might extend the corrective fall from 113.17 with another decline. But downside should be contained by 38.2% retracement of 104.62 to 113.17 at 109.90 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 109.36 support holds.

Daily Pivots: (S1) 108.71; (P) 108.85; (R1) 109.06; More..

No change in USD/JPY’s outlook as sideway trading continues. Intraday bias remains neutral at this point. On the upside, break of 109.48 resistance will resume whole rise from 104.45 and target trend line resistance (now at 111.79). On the downside, break of 108.24 support will revive the case of short term reversal. Intraday bias will be turned back to the downside for 107.88 support to confirm.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 109.40; (P) 109.55; (R1) 109.65; More..

Intraday bias in USD/JPY remains neutral at this point with focus on 109.72 resistance. Decisive break there will resume whole rise from 104.45 to channel resistance (now at 111.46). On the downside, break of 109.00 minor support will turn bias to the downside for 38.2% retracement of 104.45 to 109.72 at 107.70.

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) 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) 110.32; (P) 110.43; (R1) 110.54; More…

Intraday bias in USD/JPY remains neutral for the moment. Outlook is unchanged that corrective fall from 111.65 should have completed with three waves down to 108.71. Another rise is in favor with 110.01 support intact. Break of 110.79 will turn bias to the upside for retesting 111.65 high. However, break of 110.01 will dampen this bullish view, and turn bias to the downside for 108.71 support.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. The pattern from 101.18 could still extend with another falling leg. Sustained trading below 55 day EMA will bring deeper fall to 107.47 support and below. Nevertheless, strong break of 111.71 resistance will confirm completion of the corrective decline from 118.65 (2016 high). Further rise should then be seen to 114.54 and then 118.65 resistance.

Daily Pivots: (S1) 110.50; (P) 111.03; (R1) 111.45; More…

Intraday bias in USD/JPY stays neutral as it continues to struggle around 111.12/13 support. At this point, we’re still favoring the case for strong support around 111.12/13 to bring rebound. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. Break of 112.86 resistance will indicates completion of the correction from 118.65. In such case, intraday bias will be turned back to the upside for 115.49 resistance and above. However, sustained trading below 111.12/13 will pave the way to 100% projection at 108.42 next.

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. Nonetheless, sustained trading below 55 week EMA (now at 111.12) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

Daily Pivots: (S1) 109.30; (P) 109.62; (R1) 109.88; More…

USD/JPY is staying in range below 110.19 temporary top and intraday bias remains neutral for the moment. Further rise is mildly in favor with 108.55 support intact. On the upside, above 110.19 will resume the rise from 107.47 to retest 110.95 high. Firm break there will resume larger rise from 102.58 to 111.71 resistance next. On the downside, break of 108.55 will turn bias to the downside for 107.47 support instead.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. Though, as notable support was seen from 55 day EMA, rise from 102.58 is mildly in favor to extend higher. Decisive break of 111.71/112.22 resistance will suggest medium term bullish reversal. Rise from 101.18 could then target 118.65 resistance (Dec 2016) and above.

Daily Pivots: (S1) 109.09; (P) 109.36; (R1) 109.54; More…

Intraday bias in USD/JPY remains mildly on the downside at this point. Corrective rise from 107.47 should have completed at 110.32. Deeper fall would be seen to 108.55 support first. Break there should indicate that pattern from 110.95 has started the first leg already. Deeper fall would be seen to 107.47 support next. For now, risk will stay mildly on the downside as long as 110.32 holds, in case of recovery.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. Though, as notable support was seen from 55 day EMA, rise from 102.58 is mildly in favor to extend higher. Decisive break of 111.71/112.22 resistance will suggest medium term bullish reversal. Rise from 101.18 could then target 118.65 resistance (Dec 2016) and above. However, sustained break of 55 day EMA would revive some medium term bearishness, and open up deep fall to 61.8% retracement of 102.58 to 110.95 at 105.77 and below.

Daily Pivots: (S1) 113.87; (P) 114.01; (R1) 114.21; More…

Intraday bias in USD/JPY stays 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) 152.37; (P) 154.33; (R1) 155.60; More…

USD/JPY’s fall from 160.20 short term top continues today and intraday bias remains on the downside for 61.8% retracement of 146.47 to 160.20 at 151.71. Strong support should be seen from 150.87 resistance turned support to bring rebound. On the upside, above 153.81 minor resistance will turn intraday bias neutral first. However, sustained break of 150.87 will argue that larger scale correction is underway.

In the bigger picture, current rise from 140.25 is seen as the third leg of the up trend from 127.20 (2023 low). Next target is 100% projection of 127.20 to 151.89 from 140.25 at 164.94. Outlook will remain bullish as long as 150.87 resistance turned support holds, even in case of deep pullback.