Daily Pivots: (S1) 105.69; (P) 106.09; (R1) 106.67; More…

USD/JPY is staying in consolidation from 105.52 and intraday bias remains neutral. In case of another recovery upside should be limited below 109.31 resistance to bring fall resumption. On the downside, break of 105.52 will target 104.69 low next.

In the bigger picture, decline from 118.65 (Dec 2016) not completed yet, 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) 107.05; (P) 107.31; (R1) 107.62; More..

Outlook in USD/JPY remains unchanged and intraday bias stays neutral first. Further decline will remain in favor as long as 108.24 minor resistance holds. On the downside, break of 106.57 will target 105.98 support and below. But downside should be contained by 61.8% retracement of 101.18 to 111.71 at 105.20 to bring rebound. On the upside, break of 108.24 will turn bias back to the upside for 109.85 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec2016). Hence, there is no clear indication of trend reversal yet. Break of 105.98 support could extend the down trend 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) 109.98; (P) 110.08; (R1) 110.16; More…

USD/JPY is still bounded in range of 109.17/110.32 and intraday bias stays neutral at this point. On the upside, above 110.32 will resume the rise from 107.47. Intraday bias will be turned back to the upside for retesting 110.95 high. On the downside, below 109.17 will target 108.55 support, and then 107.47.

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) 112.35; (P) 113.01; (R1) 113.44; More..

Intraday bias in USD/JPY is neutral for the moment. Deeper fall is still in favor with 113.18 support turned resistance intact. On the downside, below 112.57 will target 112.30 first. Break will target 111.37 and possibly below. On the upside, above 113.18 will turn bias back to the upside for 114.03 resistance 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) 110.14; (P) 110.56; (R1) 110.88; More…

USD/JPY dipped to 110.18 but quickly recovered ahead of 61.8% retracement of 107.31 to 114.73 at 110.14. Intraday bias stays neutral first. At this point, further decline cannot be ruled out. But we’d look for bottoming again below 110.14 fibonacci level. Meanwhile, on the upside, break of 111.26 support turned resistance will suggest that USD/JPY has bottomed slightly earlier than expected. In that case, intraday bias will be turned back to the upside for 113.38 resistance. Decisive break there will confirm completion of the corrective pull back from 114.73 and turn outlook bullish.

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

Daily Pivots: (S1) 132.02; (P) 133.53; (R1) 134.76; More…

Intraday bias in USD/JPY stays on the downside at this point. Current fall from 137.90 would target 61.8% retracement of 127.20 to 137.90 at 131.28. Sustained break there will pave the way to retest 127.20 low. On the upside, above 134.68 minor resistance will turn intraday bias neutral first.

In the bigger picture, rebound from 127.20 should have completed at 137.90 as a corrective move, with strong break of 55 day EMA. The down trend from 151.93 (2022 high) is not over yet. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 107.87; (P) 108.01; (R1) 108.19; More…

No change in USD/JPY’s outlook as focus stays on 38.2% retracement of 102.58 to 110.95 at 107.75. We’d still look for strong support from there to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.96) will dampen the bullish view and keep medium term outlook neutral first.

Daily Pivots: (S1) 155.29; (P) 155.63; (R1) 156.02; More…

No change in USD/JPY’s outlook and intraday bias stays neutral. Price actions from 160.20 are seen as a corrective pattern. On the upside, break of 156.78 will resume the rise from 151.86, as the second leg, to retest 160.20 high. On the downside, below 153.59 will target 151.86 and below as the third leg.

In the bigger picture, a medium term top might be formed at 160.20. But as long as 150.87 resistance turned support holds, fall from there is seen as correcting rise from 150.25 only. However, decisive break of 150.87 will argue that larger correction is possibly underway, and target 146.47 support next.

Daily Pivots: (S1) 109.30; (P) 109.42; (R1) 109.57; More..

USD/JPY is staying in consolidation from 109.72 and intraday bias remains neutral first. As long as 108.27 support holds, outlook remains bullish for further rally. On the upside, break of 109.72 will resume the rise from 104.45 for 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, sustained break of 108.27 support will indicate near term reversal and turn outlook bearish.

In the bigger picture, 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) 107.92; (P) 108.09; (R1) 108.26; More…

With today’s retreat, a temporary top is formed at 108.26. Intraday bias in USD/JPY is turned neutral first. Further rise will remain in favor as long as 107.19 minor support holds. Above 108.26 will target 109.31 key resistance. We’d continue to look for topping sign as it approaches this 109.31. On the downside, break of 107.19 minor support will suggest that rebound from 104.45 has completed. Intraday bias will be turned back to the downside for retesting 104.45 low. However, decisive break of 109.31 will carry larger bullish implication.

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) 108.49; (P) 108.67; (R1) 108.97; More..

Intraday bias in USD/JPY remains neural for the moment. On the upside, break of 109.48 resistance will resume whole rise from 104.45 and target trend line resistance (now at 111.87). 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) 109.98; (P) 110.08; (R1) 110.16; More…

Intraday bias in USD/JPY remains on the upside with focus on 110.95 high. Decisive break there will resume larger up trend from 102.58 to 111.71 key resistance next. However, break of 109.79 support will suggest rejection by 110.95. Intraday bias will be turned back to the downside for 109.17 support. Break there will extend the consolidation pattern from 110.95 with another falling leg, targeting 107.47 support again.

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) 107.94; (P) 108.14; (R1) 108.38; More…

A temporary low is formed at 107.88 in USD/JPY and intraday bias is turned neutral first. Outlook is unchanged that considering bearish divergence condition in 4 hour MACD, a short term top should be formed. Upside of recovery should be limited below 109.28/31 resistance to bring fall another decline. On the downside, below 107.88 will target 106.48 support. break will confirm completion of whole rebound from 104.45 and target retest of this low. However, decisive break of 109.31 will be an early sign of medium term reversal and target 112.40 resistance next.

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) 110.83; (P) 111.15; (R1) 111.69; More…

USD/JPY’s consolidation from 110.23 is extending with another rise and intraday bias stays neutral first. Break of 112.12 might be seen but upside should be limited by 61.8% retracement of 114.36 to 110.23 at 112.78 to bring fall resumption. Below 110.23 will turn bias to the downside and will likely resume the fall from 118.65 through 108.12 low. At fall from 118.65 is seen as a correction, we’ll look for bottoming signal again at 61.8% retracement of 98.97 to 118.65 at 106.48. However, sustained break of 112.78 will turn focus back to 114.36 resistance instead.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. It’s uncertain whether it’s completed yet. But in case of another fall, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77 to bring rebound. Overall, rise from 75.56 is still expected to resume later after the correction from 125.85 completes.

Daily Pivots: (S1) 113.79; (P) 114.05; (R1) 114.41; More…

USD/JPY is staying in consolidation from 114.69 and intraday bias remains neutral. 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 case of another fall as correction extends, should be contained above 112.07 resistance turned support 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 109.11 support hold, even in case of deep pull back.

Daily Pivots: (S1) 108.44; (P) 108.75; (R1) 109.00; More..

Intraday bias in USD/JPY remains neutral for the moment as it’s staying inside range of 108.24/109.48. 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) 109.04; (P) 109.37; (R1) 109.56; More…

Intraday bias in USD/JPY remains neutral as sideway trading continues. On the downside, break of 109.10 will argue that larger fall from 111.65 is resuming. Deeper decline should then be seen to 108.71 support first, and then 38.2% retracement of 102.58 to 111.65 at 108.18 next. On the upside, above 110.44 will turn bias back to the upside for 110.79, and then 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) 111.54; (P) 111.74; (R1) 112.02; More…

No change in USD/JPY’s outlook. The corrective price actions from 110.23 could still extend. But after al, it’s a correction and the larger fall is expected to resume later. On the downside, below 110.85 minor support will turn bias to the downside to extend the fall from 114.36 to 108.12 low. Break there will resume the whole decline from 118.65. In that case, we’ll look for bottoming signal again at 61.8% retracement of 98.97 to 118.65 at 106.48.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. It’s uncertain whether it’s completed yet. But in case of another fall, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77 to bring rebound. Overall, rise from 75.56 is still expected to resume later after the correction from 125.85 completes.

Daily Pivots: (S1) 109.53; (P) 109.66; (R1) 109.91; More…

Outlook in USD/JPY remains unchanged a intraday bias stays neutral first. Further decline remains in favor as long as 110.58 resistance holds. On the downside, break of 108.71 will resume the decline from 111.65 to 38.2% retracement of 102.58 to 111.65 at 108.18. Nevertheless, firm break of 110.58 will argue that that corrective fall has completed and bring retest of 111.65.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. Firm break of 107.47 will argue that pattern from 101.18 has started another falling leg already. Deeper decline could be seen back to 101.18/102.58 support zone. For now, outlook won’t turn bullish as long as 111.71 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 109.31; (P) 109.65; (R1) 109.99; More…

With 109.14 minor support intact, further rise is still mildly in favor in USD/JPY. Rebound from 104.69 could target 61.8% retracement of 114.54 to 104.69 at 110.77. We’d look for topping signal above there. On the downside, break of 109.14 minor support will be the first sign of completion of the rebound. Intraday bias will then be turned back to the downside.

In the bigger picture, price actions from 125.85 (2015 high) are seen as a long term corrective pattern, no change in this view. Apparently, such corrective pattern is not completed yet. Fall from 114.54 is seen as part of the falling leg from 118.65 (2016 high). Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51, which is close to 100 psychological level. But in that case, we’d expect strong support from 98.97 to contain downside to bring reversal. Also, this bearish case will remain the preferred one as long as 114.54 resistance holds.