Daily Pivots: (S1) 144.22; (P) 144.47; (R1) 144.72; More…

Intraday bias in USD/JPY remains neutral as consolidation from 145.06 is extending. On the downside, break of 55 4H EMA (now at 143.79) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.14; (P) 144.53; (R1) 145.06; More…

USD/JPY is extending the consolidation from 145.05 and intraday bias remains neutral. On the downside, break of 55 4H EMA (now at 143.67) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.00; (P) 144.53; (R1) 144.86; More…

Intraday bias in USD/JPY remains neutral for consolidations below 145.06. Break of 55 4H EMA (now at 143.40) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

USD/JPY’s rally from 127.20 continued last week but retreated after hitting 145.06. Upside momentum was also diminishing as seen in 4 H MACD. Initial bias remains neutral this week for consolidations first. Break of 55 4H EMA (now at 143.28) could trigger deeper correction. But further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 138.75 support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 138.75 will indicate the the third leg has started back towards 127.20.

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) 144.31; (P) 144.61; (R1) 145.08; More…

Intraday bias in USD/JPY is turned neutral with current retreat. Some consolidations would be seen first, but further rally will remain in favor as long as 140.90 resistance turned support holds. On the upside, break of 145.06 will resume larger rise to 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 144.31; (P) 144.61; (R1) 145.08; More…

While USD/JPY continues to lose upside momentum as seen in 4H MACD, there is no sign of topping yet. Intraday bias stays on the upside for 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 143.72 minor support will turn bias again and bring consolidations. But further rally will remain in favor as long as 140.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.94; (P) 144.28; (R1) 144.83; More…

USD/JPY’s rally is still in progress and intraday bias stays on the upside at this point. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 143.29 minor support will turn bias again and bring consolidations. But further rally will remain in favor as long as 140.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.94; (P) 144.28; (R1) 144.83; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 143.29 minor support will turn bias again and bring consolidations. Down further rally will remain in favor as long as 140.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.52; (P) 143.84; (R1) 144.40; More…

USD/JPY’s rally is still in progress and intraday bias stays on the upside at this point. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn bias neutral again and bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.52; (P) 143.84; (R1) 144.40; More…

Intraday bias in USD/JPY stays on the upside for the moment. Current rally from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn bias neutral again and bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.07; (P) 143.39; (R1) 143.84; More…

Further rise is expected in USD/JPY despite loss of upside momentum. Current rally from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn bias neutral again and bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.07; (P) 143.39; (R1) 143.84; More…

USD/JPY continues to lose upside momentum, but further rally is expected with 142.68 minor support intact. Current rise from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will bring lengthier consolidations first.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.03; (P) 143.45; (R1) 144.14; More…

Intraday bias in USD/JPY stays mildly on the upside with 142.66 minor support intact. Current rally from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn intraday bias neutral first. But further rally will now remain in favor as long as 137.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

Daily Pivots: (S1) 143.03; (P) 143.45; (R1) 144.14; More…

Intraday bias in USD/JPY stays on the upside and current rally from 127.20 should target 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn intraday bias neutral first. But further rally will now remain in favor as long as 137.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

USD/JPY’s rally from 127.20 continued last week and hit as high as 143.86. Initial bias stays on the upside this week for 161.8% projection of 127.20 to 137.90 from 129.62 at 146.93. On the downside, below 142.66 minor support will turn intraday bias neutral first. But further rally will now remain in favor as long as 137.90 resistance turned support holds.

In the bigger picture, rise from 127.20 is currently seen as the second leg of the corrective pattern from 151.93 high. Further rally is expected as long as 137.90 resistance turned support holds, to retest 151.93. But strong resistance could be seen there to limit upside. Break of 137.90 will indicate the the third leg has started back towards 127.20.

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) 142.07; (P) 142.65; (R1) 143.69; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current rise from 127.20 would target a retest on 151.93 high. On the downside, below 141.20 minor support will turn intraday bias neutral first. But further rally will now remain in favor as long as 137.90 resistance turned support holds.

In the bigger picture, rise from 151.93 are seen as a corrective pattern to up trend from 102.58. The first leg has completed at 127.20. Rebound from there is seen as the second leg, and should be limited below 151.93. Sustained trading below 55 D EMA (now at 137.93) will argue that the third leg has started back to 127.20 and possibly below.

Daily Pivots: (S1) 142.07; (P) 142.65; (R1) 143.69; More…

USD/JPY’s rally continues today and breaks through 61.8% retracement of 151.93 to 127.20 at 142.48. Intraday bias stays on the upside at this point. Sustained trading above 142.28 will pave the way to retest 151.93 high. On the downside, break of 141.20 minor support will turn intraday bias neutral first.

In the bigger picture, rise from 151.93 are seen as a corrective pattern to up trend from 102.58. The first leg has completed at 127.20. Rebound from there is seen as the second leg, and should be limited below 151.93. Sustained trading below 55 D EMA (now at 137.47) will argue that the third leg has started back to 127.20 and possibly below.

Daily Pivots: (S1) 141.34; (P) 141.85; (R1) 142.41; More…

No change in USD/JPY’s outlook as further rally is expected with 141.20 minor support intact. Sustained trading above 61.8% retracement of 151.93 to 127.20 at 142.48 would extend the rise from 127.20 towards 151.93 high. However, break of 141.20 minor support will be the first sign of rejection by 142.48, and turn bias back to the downside for 55 D EMA (now at 137.77).

In the bigger picture, rise from 151.93 are seen as a corrective pattern to up trend from 102.58. The first leg has completed at 127.20. Rebound from there is seen as the second leg, and should be limited below 151.93. Sustained trading below 55 D EMA (now at 137.47) will argue that the third leg has started back to 127.20 and possibly below.

Daily Pivots: (S1) 141.34; (P) 141.85; (R1) 142.41; More…

Further rise in favor in USD/JPY as long as 141.20 minor support holds. Sustained trading above 61.8% retracement of 151.93 to 127.20 at 142.48 would extend the rise from 127.20 towards 151.93 high. However, break of 141.20 minor support will be the first sign of rejection by 142.48, and turn bias back to the downside for 55 D EMA (now at 137.77).

In the bigger picture, rise from 151.93 are seen as a corrective pattern to up trend from 102.58. The first leg has completed at 127.20. Rebound from there is seen as the second leg, and should be limited below 151.93. Sustained trading below 55 D EMA (now at 137.47) will argue that the third leg has started back to 127.20 and possibly below.

Daily Pivots: (S1) 141.02; (P) 141.63; (R1) 142.05; More…

USD/JPY’s rally is resuming by breaking 142.24 temporary top. Intraday bias is back on the upside. Sustained trading above 61.8% retracement of 151.93 to 127.20 at 142.48 would extend the rise from 127.20 towards 151.93 high. However, break of 141.20 minor support will be the first sign of rejection by 142.48, and turn bias back to the downside for 55 D EMA (now at 137.62).

In the bigger picture, rise from 151.93 are seen as a corrective pattern to up trend from 102.58. The first leg has completed at 127.20. Rebound from there is seen as the second leg, and should be limited below 151.93. Sustained trading below 55 D EMA (now at 137.47) will argue that the third leg has started back to 127.20 and possibly below.