Daily Pivots: (S1) 112.35; (P) 112.60; (R1) 112.84; More…

USD/JPY’s pull back from 113.08 extends lower today. Near term outlook is a bit unclear and intraday bias stays neutral first. On the upside, above 113.08 will extend the rebound from 110.83 to retest 114.73 key resistance. Decisive break there will extend the rally from 107.31 to retest 118.65 high. On the downside, break of 110.83 will resume the decline from 114.73 instead. But in that case, we’ll look for bottoming again below 61.8% retracement of 107.31 to 114.73 at 110.14.

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

Daily Pivots: (S1) 112.14; (P) 112.61; (R1) 112.86; More…

Intraday bias in USD/JPY remains neutral for consolidation below 113.08 temporary top. On the upside, above 113.08 will extend the rebound from 110.83 to retest 114.73 key resistance. Decisive break there will extend the rally from 107.31 to retest 118.65 high. On the downside, break of 110.83 will resume the decline from 114.73 instead. But in that case, we’ll look for bottoming again below 61.8% retracement of 107.31 to 114.73 at 110.14.

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

Daily Pivots: (S1) 112.14; (P) 112.61; (R1) 112.86; More…

A temporary top is in place at 113.08 as USD/JPY retreats. Intraday bias is turned neutral first. On the upside, above 113.08 will extend the rebound from 110.83 to retest 114.73 key resistance. Decisive break there will extend the rally from 107.31 to retest 118.65 high. On the downside, break of 110.83 will resume the decline from 114.73 instead. But in that case, we’ll look for bottoming again below 61.8% retracement of 107.31 to 114.73 at 110.14.

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

Daily Pivots: (S1) 111.40; (P) 112.14; (R1) 112.89; More…

Intraday bias in USD/JPY remains on the upside. Rebound from from 110.83 should target a test on 114.73 key resistance next. Decisive break there will extend the rally from 107.31 to retest 118.65 high. In case of another fall, we’ll look for bottoming again below 61.8% retracement of 107.31 to 114.73 at 110.14.

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

Daily Pivots: (S1) 111.40; (P) 112.14; (R1) 112.89; More…

Breach of 112.8y suggests that USD/JPY’s rebound from 110.83 is resuming. More importantly, pull back from 114.73 is likely completed. Intraday bias is back on the upside for retesting 114.73 key resistance. Decisive break there will extend the rally from 107.31 to retest 118.65 high. In case of another fall, we’ll look for bottoming again below 61.8% retracement of 107.31 to 114.73 at 110.14.

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

USD/JPY rebounded strongly to 112.87 last week but failed to sustain above 112.71 resistance a and dropped sharply since then. Initial bias is neutral this week first. On the upside, break of 112.87 should confirm completion of the pull back from 114.73 at 110.83. Intraday bias should then be turned back to the upside for retesting 114.73. On the downside, in case of another fall, we’d look for bottoming again below 61.8% retracement of 107.31 to 114.73 at 110.14.

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

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) 111.96; (P) 112.30; (R1) 112.86; More…

Intraday bias in USD/JPY remains neutral with focus on 112.71 resistance. Sustained break there should confirm completion of pull back from 114.73. In that case, intraday bias will be turned back to the upside for retesting 114.73 resistance. On the downside, below 111.66 minor support will turn bias to the downside and likely resume fall from 112.71 through 110.83. But in that case, we’d expect strong support below 61.8% retracement of 107.31 to 114.73 at 110.14 to bring rebound.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.96; (P) 112.30; (R1) 112.86; More…

USD/JPY’s rebound from 110.83 extended further and focus is now on 112.71 resistance. Sustained break there should confirm completion of pull back from 114.73. In that case, intraday bias will be turned back to the upside for retesting 114.73 resistance. On the downside, below 111.66 minor support will turn bias to the downside and likely resume fall from 112.71 through 110.83. But in that case, we’d expect strong support below 61.8% retracement of 107.31 to 114.73 at 110.14 to bring rebound.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.47; (P) 111.80; (R1) 112.27; More…

Intraday bias in USD/JPY remains neutral as recovery from 110.83 is still limited well below 112.71 resistance. Another fall remains mildly in favor. Break of 110.83 will target 61.8% retracement of 107.31 to 114.73 at 110.14. We’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, break of 112.71 will suggest that the fall from 114.73 is completed and turn bias to the upside for retesting this resistance.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.47; (P) 111.80; (R1) 112.27; More…

USD/JPY’s rebound from 110.83 is still in progress. But it’s staying well below w112.71 resistance and intraday bias stays neutral first. As as long 112.61 holds, fall from 114.73 could extend lower to 61.8% retracement of 107.31 to 114.73 at 110.14. We’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, break of 112.71 will suggest that the fall from 114.73 is completed and turn bias to the upside for retesting this resistance.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.05; (P) 111.34; (R1) 111.76; More…

USD/JPY rebounds strongly in early US session. But for the moment it’s limited well below 112.71 resistance. Intraday bias remains neutral first. Decline from 114.73 could still extend lower and below 110.83 will target 61.8% retracement of 107.31 to 114.73 at 110.14. We’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, break of 112.71 will suggest that the fall from 114.73 is completed and turn bias to the upside for retesting this resistance.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.05; (P) 111.34; (R1) 111.76; More…

Intraday bias in USD/JPY remains neutral for consolidation above 110.83 temporary low. As long as 112.71 resistance holds, fall from 114.73 is expected to continue. Below 110.83 will target 61.8% retracement of 107.31 to 114.73 at 110.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, break of 112.71 will suggest that the fall from 114.73 is completed and turn bias to the upside for retesting this resistance.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 110.73; (P) 111.20; (R1) 111.57; More…

A temporary low is in place at 110.83 and intraday bias is turned neutral first. As long as 112.71 resistance holds, fall from 114.73 is expected to continue. Below 110.83 will target 61.8% retracement of 107.31 to 114.73 at 110.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, break of 112.71 will suggest that the fall from 114.73 is completed and turn bias to the upside for retesting this resistance.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 110.73; (P) 111.20; (R1) 111.57; More…

Intraday bias in USD/JPY remains on the downside with 111.68 minor resistance intact. Current fall from 114.73 would target 61.8% retracement of 107.31 to 114.73 at 110.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, above 116.68 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.23; (P) 111.42; (R1) 111.68; More…

USD/JPY’s fall resumed after brief consolidation and breaks 111.06 temporary low. Intraday bias is turned back to the downside for 61.8% retracement of 107.31 to 114.73 at 110.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise. On the upside, above 116.68 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 107.31 support holds, medium term rise from 98.97 (2016 low) is not completed yet. And another rise is in favor. Break of 114.73 resistance will target a test on 118.65 high first. However, break of 107.31 will dampen this will and extend the medium term fall back to 98.97 low.

Daily Pivots: (S1) 111.23; (P) 111.42; (R1) 111.68; More…

Intraday bias in USD/JPY remains neutral for consolidation above 111.06 temporary low. Near term outlook remains bearish as long as 112.71 resistance holds and deeper decline is expected. Below 111.06 will target 61.8% retracement of 107.31 to 114.73 at 110.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise.

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 completes. 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. However, firm break of 111.64 support will dampen this view and turn focus back to 107.31 instead.

USD/JPY’s fall from 114.73 extended to as low as 111.06 last week and recovered after forming a temporary low. Initial bias is neutral this week first. But deeper fall will be expected as long as 112.71 holds. Below 111.06 will target 61.8% retracement of 107.31 to 114.73 at 110.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 110.14 to bring another rise.

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 completes. 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. However, firm break of 111.64 support will dampen this view and turn focus back to 107.31 instead.

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) 111.06; (P) 111.21; (R1) 111.37; More…

At this point, deeper decline is expected in USD/JPY with 112.71 resistance intact. Fall from 114.73 would target 61.8% retracement of 107.31 to 114.73 at 101.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 101.14 to bring another rise. On the upside, break of 112.71 resistance will indicate that the fall from 114.73 is completed and turn bias back to the upside.

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 completes. 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. However, firm break of 111.64 support will dampen this view and turn focus back to 107.31 instead.

Daily Pivots: (S1) 111.06; (P) 111.21; (R1) 111.37; More…

As noted before, whole rebound form 107.32 should have finished at 114.73. Intraday bias in USD/JPY remains on the downside for 61.8% retracement of 107.31 to 114.73 at 101.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 101.14 to bring another rise. On the upside, break of 112.71 resistance will indicate that the fall from 114.73 is completed and turn bias back to the upside.

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 completes. 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. However, firm break of 111.64 support will dampen this view and turn focus back to 107.31 instead.

Daily Pivots: (S1) 110.74; (P) 111.62; (R1) 112.09; More…

USD/JPY’s fall from 114.73 extends to as low as 111.06 so far today. The strong break of 111.64 support should confirm that whole rebound from 107.32 has completed at 114.73. Intraday bias remains on the downside for 61.8% retracement of 107.31 to 114.73 at 101.14. For the moment, we’re still favoring the case medium term corrective pattern from 118.65 has completed at 107.31 already. Hence, we’ll looking for bottoming below 101.14 to bring another rise. On the upside, break of 112.71 resistance will indicate that the fall from 114.73 is completed and turn bias back to the upside.

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 completes. 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. However, firm break of 111.64 support will dampen this view and turn focus back to 107.31 instead.