Daily Pivots: (S1) 112.49; (P) 112.68; (R1) 113.02; More..

USD/JPY’s fall from 112.88 extended lower today and focus is now on 111.94 minor support. Break should confirm that corrective rise from 111.62 has completed and larger fall from 114.54 is resuming. Intraday bias will be turned to the downside for 38.2% retracement of 104.62 to 114.54 at 110.75. As such decline is viewed as part of medium term correction, we’ll look for bottoming signal above 109.76 key support in that case. On the upside, above 112.88 will target 61.8% retracement of 114.54 to 111.62 at 113.42 instead.

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) 112.49; (P) 112.68; (R1) 113.02; More..

USD/JPY lost momentum after hitting 112.88 and intraday bias is turned neutral again. Further rise cannot be ruled out yet. But based on the corrective structure, upside should be limited by 61.8% retracement of 114.54 to 111.62 at 113.42. On the downside, below 111.94 minor support will turn bias to the downside to 111.62 low first. Break will resume the corrective fall from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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) 112.23; (P) 112.44(R1) 112.74; More..

Intraday bias in USD/JPY remains on the upside as rebound from 111.62 is in progress. Further rise would be seen to retest 114.54 resistance. On the downside, break of 111.94 minor support will resume the correction from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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) 112.23; (P) 112.44(R1) 112.74; More..

The breach of 112.72 temporary top suggests that rebound from 111.62 is resuming. Intraday bias is turned to the upside for retesting 114.54 high. On the downside, break of 111.94 minor support will resume the correction from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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.

USD/JPY edged lower to 111.62 last week, formed a short term bottom there and recovered. Initial bias is neutral this week first but further rebound is mildly in favor. ON the upside, above 112.71 turn bias to the upside for 114.54 high. On the downside, below 111.62 will resume the correction from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 top 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) 111.85; (P) 112.29; (R1) 112.63; More..

Intraday bias in USD/JPY remains neutral at this point. On the upside, above 112.71 will extend the rebound from 111.62 to retest 114.54 high. On the downside, below 111.62 will resume the correction from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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) 111.85; (P) 112.29; (R1) 112.63; More..

USD/JPY breached 112.01 minor support briefly and quickly recovered. Intraday bias is turned neutral first. On the upside, above 112.71 will extend the rebound from 111.62 to retest 114.54 high. On the downside, below 111.62 will resume the correction from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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) 112.23; (P) 112.45; (R1) 112.89; More..

Intraday bias in USD/JPY remains mildly on the upside at this point. The pull back from 114.54 could have completed at 111.62 already. Further rise would be seen for retesting 114.54 high. On the downside, below 112.01, however, will likely resume the corrective fall from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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) 112.23; (P) 112.45; (R1) 112.89; More..

USD/JPY’s break of 112.52 minor resistance argues that pull back from 114.54 has completed at 111.62 already. Intraday bias is turned back to the upside for retesting 114.54 resistance. on the downside, below 112.01, however, will likely resume the corrective fall from 114.54 to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support in that case.

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) 111.86; (P) 112.10; (R1) 112.48; More..

USD/JPY is staying in range above 111.62 and intraday bias remains neutral first. Near term outlook stays cautiously bearish with 112.52 minor resistance intact and further fall is expected. Break of 111.62 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, above 112.52 minor resistance will indicate completion of the pull back and bring retest of 114.54 high.

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) 111.86; (P) 112.10; (R1) 112.48; More..

Intraday bias in USD/JPY remains neutral for the moment. As long as 112.52 minor resistance holds, deeper fall is expected. Decline from 114.54 is viewed as correcting whole rise from 104.62. Break of 111.62 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, considering mild bullish convergence condition in 4 hour MACD, above 112.52 minor resistance will indicate completion of the pull back and bring retest of 114.54 high.

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) 111.51; (P) 111.88; (R1) 112.13; More..

Intraday bias in USD/JPY stays neutral for consolidation above 111.62 temporary low. As long as 112.52 minor resistance holds, deeper fall is expected. Decline from 114.54 is viewed as correcting whole rise from 104.62. Break of 111.62 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, considering mild bullish convergence condition in 4 hour MACD, above 112.52 minor resistance will indicate completion of the pull back and bring retest of 114.54 high.

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) 111.51; (P) 111.88; (R1) 112.13; More..

USD/JPY recovers mildly after dropping to 111.62. But as long as 112.52 minor resistance holds, deeper fall is expected. Current decline is seen as correcting whole rise from 104.62. Deeper fall would be seen to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, considering mild bullish convergence condition in 4 hour MACD, above 112.52 minor resistance will indicate completion of the pull back and bring retest of 114.54 high.

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) 111.91; (P) 112.20; (R1) 112.53; More..

USD/JPY’s fall from 114.54 resumes after brief consolidation and intraday bias is back on the downside. Such decline is seen as correcting whole rise from 104.62. Deeper fall would be seen to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, though, above 112.52 minor resistance will indicate completion of the pull back and bring retest of 114.54 high.

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) 111.91; (P) 112.20; (R1) 112.53; More…

Intraday bias in USD/JPY remains neutral at this point, but deeper fall is in favor. Decline from 114.54 is correcting whole rise from 104.62. Below 111.82 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, though, above 113.28 will indicate completion of the pull back and bring retest of 114.54 high.

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.

USD/JPY’s fall from 114.54 accelerated to as low as 111.82 last week. Current developments suggests that rise from 104.62 has completed at 114.54 after rejection from 114.73 key resistance. USD/JPY is now correcting this whole rise. Initial bias is neutral for consolidation above 111.82 temporary low first. But upside of recovery should bel limited below 113.28 resistance to bring another fall. On the downside, break of 111.82 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support.

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.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 top 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) 111.82; (P) 112.18; (R1) 112.53; More…

Intraday bias in USD/JPY remains neutral for consolidation above 111.82 temporary low. Further decline is expected as long as 113.28 resistance holds. Fall from 114.54 is seen as correcting whole up trend from 104.62, after rejection by 114.73 resistance. Below 111.82 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support.

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) 111.82; (P) 112.18; (R1) 112.53; More…

Intraday bias in USD/JPY is turned neutral for consolidation with a temporary low in place at 111.82. But further decline is expected as long as 113.28 resistance holds. Fall from 114.54 is seen as correcting whole up trend from 104.62, after rejection by 114.73 resistance. Below 111.82 will target 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support.

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) 111.92; (P) 112.60; (R1) 112.95; More…

Intraday bias in USD/JPY remains on the downside at this point. Fall from 114.54 could be correcting whole up trend from 104.62, after rejection by 114.73 resistance. Further fall could be seen to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, break of 113.28 minor resistance is needed to indicate completion of the decline. Otherwise, near term outlook stays mildly bearish even in case of recovery.

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) 111.92; (P) 112.60; (R1) 112.95; More…

USD/JPY’s fall from 114.54 extends to as low as 111.96 so far today. There is no sign of bottoming yet and intraday bias remains on the downside. Current downside acceleration argues that USD/JPY is correcting whole up trend from 104.62, after rejection by 114.73 resistance. Further fall could be seen to 38.2% retracement of 104.62 to 114.54 at 110.75. We’ll look for bottoming signal above 109.76 key support. On the upside, break of 113.28 minor resistance is needed to indicate completion of the decline. Otherwise, near term outlook stays mildly bearish even in case of recovery.

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.