Daily Pivots: (S1) 113.42; (P) 113.72; (R1) 114.20; More…

Intraday bias in USD/JPY remains neutral for consolidation below 114.09 temporary top. Outlook remains mildly bullish as long as 111.64 support holds Above 114.09 will resume the rise from 107.31 to 114.49 resistance. Decisive break there will confirm that correction pattern from 118.65 has completed at 107.31 already. And USD/JPY should then target a test on 118.65.

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 completed. 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) 113.08; (P) 113.59; (R1) 113.93; More…

Intraday bias in USD/JPY remains neutral for the moment. Some more consolidation could be seen below 114.09 temporary top. But in any case, will remain mildly bullish as long as 111.64 support holds. Above 114.09 will target 114.49 resistance next. Decisive break there will confirm that correction pattern from 118.65 has completed at 107.31 already. And USD/JPY should then target a test on 118.65.

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 completed. 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) 113.08; (P) 113.59; (R1) 113.93; More…

A temporary top is in place at 114.09 and intraday bias is turned neutral first. In any case, outlook will remain mildly bullish as long as 111.64 support holds. Above 114.09 will target 114.49 resistance next. Decisive break there will confirm that correction pattern from 118.65 has completed at 107.31 already. And USD/JPY should then target a test on 118.65.

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 completed. 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) 112.81; (P) 113.18; (R1) 113.88; More…

Intraday bias in USD/JPY remains on the upside for 114.49 resistance . As noted before, correction pattern from 118.65 could have completed at 107.31 already. Decisive of 114.49 resistance should confirm this bullish case and target 118.65 resistance and above. For now, this will be the preferred case as long as 111.64 support holds.

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 completed. 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) 112.81; (P) 113.18; (R1) 113.88; More…

USD/JPY’s rebound from 107.31 continues today and intraday bias remains on the upside for 114.49 resistance. As noted before, correction pattern from 118.65 could have completed at 107.31 already. Decisive of 114.49 resistance should confirm this bullish case and target 118.65 resistance and above. For now, this will be the preferred case as long as 111.64 support holds.

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 completed. 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.

USD/JPY’s break of 113.43 resistance last week indicates that rebound from 107.31 has resumed. This also revives the case that correction from 118.65 has completed at 107.31. Initial bias remains on the upside this week for 114.49 resistance first. Decisive break there will affirm this case and target 118.65 resistance and above. For now, this will be the preferred case as long as 111.64 support holds.

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 completed. 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.

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) 112.17; (P) 112.66; (R1) 113.02; More…

Focus in USD/JPY remains on 113.43 resistance. Firm break there will resume the rise from 107.31 and target 114.49 resistance. More importantly current development revives the case that correction from 118.65 has completed at 107.31. Decisive break of 114.49 will pave the way to retest 118.65 high. However, break of 111.64 will mixed up the outlook again and turn bias back to the downside for deeper fall.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 112.17; (P) 112.66; (R1) 113.02; More…

At this point, USD/JPY is still limited below 113.43 resistance and intraday bias stays neutral first. On the upside, break of 113.43 will resume the rise from 107.31 and target 114.49 resistance. More importantly current development revives the case that correction from 118.65 has completed at 107.31. Decisive break of 114.49 will pave the way to retest 118.65 high. However, break of 111.64 will mixed up the outlook again and turn bias back to the downside for deeper fall.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 112.35; (P) 112.70; (R1) 113.27; More…

Intraday bias in USD/JPY is turned neutral again as it failed to break through 113.43 resistance and retreats sharply today. On the upside, break of 113.43 will resume the rise from 107.31 and target 114.49 resistance. More importantly current development revives the case that correction from 118.65 has completed at 107.31. Decisive break of 114.49 will pave the way to retest 118.65 high. However, break of 111.64 will mixed up the outlook again and turn bias back to the downside for deeper fall.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 112.35; (P) 112.70; (R1) 113.27; More…

Intraday bias in USD/JPY remain son the upside for 113.43 resistance. Break there will resume the rise from 107.31 and target 114.49 resistance. More importantly current development revives the case that correction from 118.65 has completed at 107.31. Decisive break of 114.49 will pave the way to retest 118.65 high. However, break of 111.64 will mixed up the outlook again.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 111.99; (P) 112.23; (R1) 112.43; More…

USD/JPY’s strong rebound and break of 112.57 minor resistance suggests that pull back from 113.43 has completed at 111.64 already. And, rise from 107.31 is possibly resuming. More importantly, the development revives the case that correction from 118.65 has completed at 107.31. Intraday bias is now back on the upside for 113.43 first. Further break of 114.49 will confirm and pave the way to retest 118.65. However, break of 111.64 will mixed up the outlook again.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 111.99; (P) 112.23; (R1) 112.43; More…

Intraday bias in USD/JPY stays neutral first. With 112.57 minor resistance intact, another decline is in favor. Below 111.64 will target 55 day EMA (now at 111.45) first. Sustained break there will target 107.31 and possibly below. Nonetheless, above 112.57 will bring retest of 113.43. Break there will resume whole rise from 107.31 for 114.49 key resistance.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 111.79; (P) 112.04; (R1) 112.42; More…

Intraday bias in USD/JPY remains neutral for the moment. Another decline is expected as long as 112.57 minor resistance holds. Below 111.64 will target 55 day EMA (now at 111.40) first. Sustained break there will target 107.31 and possibly below. Nonetheless, above 112.57 will bring retest of 113.43. Break there will resume whole rise from 107.31 for 114.49 key resistance.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 111.79; (P) 112.04; (R1) 112.42; More…

A temporary low is in place at 111.64 in USD/JPY and intraday bias is turned neutral first. Another decline is expected as long as 112.57 minor resistance holds. Below 111.64 will target 55 day EMA (now at 111.40) first. Sustained break there will target 107.31 and possibly below. Nonetheless, above 112.57 will bring retest of 113.43. Break there will resume whole rise from 107.31 for 114.49 key resistance.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 111.57; (P) 111.94; (R1) 112.19; More…

Intraday bias in USD/JPY stays on the downside at this point, as 112.57 minor resistance remains intact. 113.43 is seen as a short term top. Decline from there should target 55 day EMA (now at 111.37) first. As whole rebound from 107.31 is likely completed, sustained trading below 55 day EMA will target 107.31 low and below. In that case, we’d expect strong support from 61.8% retracement of 98.97 to 118.65 at 106.48 to contain downside and bring rebound. On the upside, above 112.57 minor resistance will turn intraday bias neutral first. But risk will stays on the downside as long as 113.43 resistance holds.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 111.57; (P) 111.94; (R1) 112.19; More…

Intraday bias in USD/JPY remains on the downside with 112.57 minor resistance intact. Fall from 113.43 short term top would target EMA (now at 111.37) first. As whole rebound from 107.31 is likely completed, sustained trading below 55 day EMA will target 107.31 low and below. In that case, we’d expect strong support from 61.8% retracement of 98.97 to 118.65 at 106.48 to contain downside and bring rebound. On the upside, above 112.57 minor resistance will turn intraday bias neutral first. But risk will stays on the downside as long as 113.43 resistance holds.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

USD/JPY’s decline last week indicates short term topping at 113.43. That was on bearish divergence condition in 4 hour MACD, after failing to sustain above medium term falling trend line. The development argues that rebound from 107.31 could have completed already. And fall from 113.43 might be another leg of medium term correction from 118.65. Initial bias stays on the downside this week for 55 day EMA (now at 111.37) first. Sustained break will target 107.31 low and below. In that case, we’d expect strong support from 61.8% retracement of 98.97 to 118.65 at 106.48 to contain downside and bring rebound. On the upside, above 112.57 minor resistance will turn intraday bias neutral first. But risk will stays on the downside as long as 113.43 resistance holds.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

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) 112.10; (P) 112.31; (R1) 112.49; More…

USD/JPY’s fall from 113.43 short term top extends in early US session and intraday bias remains on the downside. Deeper decline would be seen to 55 day EMA (now at 111.35) first. On the upside, above 112.57 minor resistance will turn intraday bias neutral first. But risk will stays on the downside as long as 113.43 resistance holds.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 112.10; (P) 112.31; (R1) 112.49; More…

Intraday bias in USD/JPY remains the downside for the moment. Decline from 113.43 short term top should extend to 55 day EMA (now at 111.35) first. Sustained break there will bring retest of 107.31. For now, risk will stays on the downside as long as 113.43 resistance holds.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.

Daily Pivots: (S1) 112.18; (P) 112.38; (R1) 112.69; More…

No change in USD/JPY’s outlook. The fall from 113.43 short term top is expected to extend lower. Intraday bias stays on the downside for 55 day EMA (now at 111.35) first. Sustained break there will bring retest of 107.31. For now, risk will stays on the downside as long as 113.43 resistance holds.

In the bigger picture, rise from 98.97 (2016 low) is seen as the second leg of the corrective pattern from 125.85 (2015 high). It’s unclear whether this this second leg has completed at 118.65 or not. But medium term outlook will be mildly bearish as long as 114.49 resistance holds. And, there is prospect of breaking 98.97 ahead. Meanwhile, break of 114.49 will bring retest of 125.85 high. But even in that case, we don’t expect a break there on first attempt.