Daily Pivots: (S1) 139.10; (P) 140.14; (R1) 142.21; More…

Intraday bias in USD/JPY remains on the upside for retesting 145.60. Firm break there will resume whole rally from 172.20. Next target is 61.8% projection of 129.62 to 145.06 from 137.22 at 146.76. On the downside, below 140.68 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Rise from 127.20 is seen as the second leg of the pattern and could still be in progress. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 139.10; (P) 140.14; (R1) 142.21; More…

Break of 141.93 resistance confirms resumption of rebound from 137.22 in USD/JPY. Intraday bias is back on the upside for retesting 145.06 first. Firm break there will resume whole rise from 172.20. On the downside, below 140.68 minor support will turn intraday bias neutral first.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Rise from 127.20 is seen as the second leg of the pattern and could still be in progress. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

USD/JPY’s retreated deeply to 138.05 last week but recovered to extend range trading. Initial bias is neutral this week first. On the upside, above 141.93 will resume the rebound from 137.22. More importantly, that would sign that whole rise from 127.20 is still in progress. Further rally should then be seen to 145.06 resistance and above. Nevertheless, on the downside, break of 137.22 will resume the whole decline from 145.06, and carries larger bearish implications.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Rise from 127.20 the second leg of the pattern and could still be in progress. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

In the long term picture, price action from 151.93 is seen as developing into a corrective pattern to up trend from 75.56 (2011 low). While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 75.56 to 151.93 at 122.75.

Daily Pivots: (S1) 138.40; (P) 139.86; (R1) 140.95; More…

Intraday bias in USD/JPY is turned neutral again as it recovery after failing to break through 137.22 support. On the downside, break of 137.22 will resume the whole decline from 145.06, and carries larger bearish implications. On the upside, though, break of 141.93 will resume the rebound from 137.22 and target a test on 145.06 high.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 138.40; (P) 139.86; (R1) 140.95; More…

Intraday bias in USD/JPY is back on the downside with break of 139.37 temporary low. Further break of 137.22 will resume the whole decline from 145.06, and carries larger bearish implications. On the upside, though, break of 141.93 will resume the rebound from 137.22 and target a test on 145.06 high.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 139.73; (P) 140.46; (R1) 140.98; More…

Intraday bias in USD/JPY is turned neutral again as it recovered after dipping to 139.37. On the upside, break of 141.93 will resume the rebound from 137.22 and target a test on 145.06 high. On the downside, below 139.37 will bring deeper fall to retest 137.22 support instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 139.73; (P) 140.46; (R1) 140.98; More…

Breach of 139.74 minor support argues that recovery from 137.22 has completed at 141.93. Intraday bias in USD/JPY is back on the downside for retesting 137.22 support. Firm break there will resume whole decline from 145.06. On the upside, however, break of 141.93 will resume the rebound from 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 140.60; (P) 141.17; (R1) 141.47; More…

Intraday bias in USD/JPY remains neutral for the moment. Further rise is mildly in favor with 139.74 minor support intact. On the upside, above 141.93 will resume the rebound from 137.22 to 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 140.60; (P) 141.17; (R1) 141.47; More…

Intraday bias in USD/JPY remains neutral at this point, and further rise is mildly in favor with 139.74 minor support intact. On the upside, above 141.93 will resume the rebound from 137.22 to 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 140.88; (P) 141.35 (R1) 141.94; More…

USD/JPY is staying in consolidation below 141.93 temporary top and intraday bias remains neutral. But further rally is mildly in favor. On the upside, above 141.93 will resume the rebound from 137.22 to 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 140.88; (P) 141.35 (R1) 141.94; More…

Intraday bias in USD/JPY stays neutral and further rally is mildly in favor. On the upside, above 141.93 will resume the rebound from 137.22 to 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 140.38; (P) 141.17 (R1) 142.59; More…

Intraday bias in USD/JPY is turned neutral first with today’s retreat. On the upside, above 141.93 will resume the rebound from 137.22 to 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 140.38; (P) 141.17 (R1) 142.59; More…

Intraday bias in USD/JPY remains on the upside at this point. Rebound from 137.22 would target retesting 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

USD/JPY’s strong rebound last week argues that pull back from 145.06 has completed at 137.22 already. More importantly, rise from 127.20 is not completed. Initial bias stays on the upside this week for retesting 145.06 first. Firm break there will target 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

In the long term picture, price action from 151.93 is seen as developing into a corrective pattern to up trend from 75.56 (2011 low). While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 75.56 to 151.93 at 122.75.

Daily Pivots: (S1) 139.29; (P) 139.90; (R1) 140.67; More…

Intraday bias in USD/JPY stays on the upside at this point. Rise from 137.22 should extend to retest 145.05 high first. Firm break there will resume larger rise from 127.20 to 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.74 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 139.29; (P) 139.90; (R1) 140.67; More…

USD/JPY’s rise from 137.22 accelerates higher today, and the development suggests that pull back from 145.06 has completed at 137.22 already. Intraday bias is now on the upside for retesting 145.06 first. Firm break there will resume larger rise from 127.20 to 61.8% projection of 129.62 to 127.22 from 145.06 at 146.76 next. On the downside, below 139.10 minor support will bring retest of 137.22 instead.

In the bigger picture, overall price actions from 151.93 (2022 high) are views as a corrective pattern. Current development suggests that the second leg (the rise from 127.20) might not be over yet. But even in case of extended rise, strong resistance should be seen from 151.93 to limit upside. Meanwhile, break of 137.22 support should confirm the start of the third leg to 127.20 (2023 low) and below.

Daily Pivots: (S1) 138.97; (P) 139.48; (R1) 140.19; More…

For now, strong resistance is still expected by 55 4H EMA (now at 139.87) to complete the recovery from 137.22. Break of 137.22 and sustained trading below 137.90 resistance turned support will confirm the larger bearish case, and target 127.20 and below. Nevertheless, sustained trading above 55 4H EMA will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 145.06 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Sustained break of 137.90 resistance turned support should confirm this case and target 127.20 (2023 low) and below. For now, this will remain the favored case as long as 145.06 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 138.97; (P) 139.48; (R1) 140.19; More…

Intraday bias in USD/JPY remains neutral and outlook is unchanged. Strong resistance is expected from 55 4H EMA (now at 139.87) to complete the recovery from 137.22. Break of 137.22 and sustained trading below 137.90 resistance turned support will confirm the larger bearish case, and target 127.20 and below. Nevertheless, sustained trading above 55 4H EMA will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 145.06 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Sustained break of 137.90 resistance turned support should confirm this case and target 127.20 (2023 low) and below. For now, this will remain the favored case as long as 145.06 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 137.99; (P) 138.57; (R1) 139.41; More…

Strong resistance is expected from 55 4H EMA (now at 139.94) to complete the recovery from 137.22. Break of 137.22 and sustained trading below 137.90 resistance turned support will confirm the larger bearish case, and target 127.20 and below. Nevertheless, sustained trading above 55 4H EMA will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 145.06 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Sustained break of 137.90 resistance turned support should confirm this case and target 127.20 (2023 low) and below. For now, this will remain the favored case as long as 145.06 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 137.99; (P) 138.57; (R1) 139.41; More…

No change in USD/JPY’s outlook as consolidation from 137.22 is extending. Intraday bias stays neutral for the moment. While further recovery might be seen, upside should be limited by 55 4H EMA (now at 139.96) and bring another decline. Break of 137.22 and sustained trading below 137.90 resistance turned support will confirm the larger bearish case, and target 127.20 and below.

In the bigger picture, fall from 145.06 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Sustained break of 137.90 resistance turned support should confirm this case and target 127.20 (2023 low) and below. For now, this will remain the favored case as long as 145.06 resistance holds, even in case of strong rebound.