Daily Pivots: (S1) 148.81; (P) 149.06; (R1) 149.39; More…

Intraday bias in USD/JPY remains neutral for the moment and more sideway trading could be seen. On the downside, below 147.28 will turn bias to the downside for deeper pull back. But there is no confirmation of bearish trend reversal before firm break of 144.43 support. Another rally remains mildly in favor through 150.15 to retest 151.93 high.

In the bigger picture, while rise from 127.20 is strong, it could still be seen as the second leg of the corrective pattern from 151.93 (2022 high). Rejection by 151.93, followed by sustained break of 145.06 resistance turned support will be the first sign that the third leg of the pattern has started. However, sustained break of 151.93 will confirm resumption of long term up trend.

Daily Pivots: (S1) 109.07; (P) 109.41; (R1) 109.73; More…

Intraday bias in USD/JPY remains neutral as consolidation from 108.27 is in progress. As long as 110.18 resistance holds, near term outlook stays bearish and deeper fall is expected. On the downside, break of 108.27 will extend recent fall through 107.31 support to next fibonacci support at 106.48. Nonetheless, break of 110.18 will be the first sign of near term reversal and will turn bias back to the upside for 111.47 resistance.

In the bigger picture, current development argues that the corrective pattern from 118.65 is extending. There is risk of dropping further to 61.8% retracement of 98.97 to 118.65 at 106.48. But this level should provide strong support to contain downside and bring resumption of rise from 98.97. However, sustained break of 106.48 will now likely send USD/JPY through 98.97 to resume the corrective fall from 125.85 (2015 high).

Daily Pivots: (S1) 145.30; (P) 145.55; (R1) 145.97; More…

Intraday bias in USD/JPY remains neutral for the moment. On the upside, firm break of 145.89 will resume larger up trend to 147.68 long term resistance. On the downside, break of 143.51 minor support will turn bias back to the downside to 140.33 support. But overall outlook will stay bullish as long as 139.37 resistance turned support holds.

In the bigger picture, up trend from 101.18 is still in progress, as part of the whole up trend from 75.56 (2011 low). Further rise should be seen to 147.68 (1998 high). For now, break of 130.38 support is needed to be the first indication of medium term topping. Otherwise, outlook will stay bullish even in case of deep pull back.

Daily Pivots: (S1) 110.11; (P) 110.39; (R1) 110.77; More…

No change in USD/JPY’s outlook. Corrective recovery from 109.02 might extend higher. But upside should be limited by 55 day EMA (now at 110.84) to bring another fall. On the downside, below 109.81 minor support will turn bias back to the downside for 109.02. Break there will extend the decline from 112.40 to retest 104.69 low. However, sustained trading above 55 day EMA will indicate completion of the fall from 112.40 and bring retest of this high.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Currently development suggests that rebound from 104.69 is only a corrective move. And fall from 118.65 is not completed yet. Decisive break of 104.69 will extend the down trend towards 98.97 support (2016 low). For now, we’d expect strong support above there to bring rebound.

Daily Pivots: (S1) 130.93; (P) 132.81; (R1) 134.11; More…

Intraday bias in USD/JPY stays neutral and consolidation from 135.58 could extend further. However, outlook stays bullish as long as 131.34 resistance turned support holds. Above 135.58 will resume larger up trend to 61.8% projection of 114.40 to 131.34 from 126.35 at 136.81. Firm break there will target 100% projection at 143.29. However, firm break of 131.34 will bring deeper pull back to 55 day EMA (now at 128.34).

In the bigger picture, current rally is seen as part of the long term up trend from 75.56 (2011 low). Next target is 100% projection of 75.56 (2011 low) to 125.85 (2015 high) from 98.97 at 149.26, which is close to 147.68 (1998 high). This will remain the favored case as long as 126.35 support holds.

Daily Pivots: (S1) 113.53; (P) 114.04; (R1) 114.45; More…

Intraday bias in USD/JPY remains neutral for consolidation below 114.54 temporary top. As long as 113.51 support holds, further rise is still expected. On the upside, decisive break of 114.73 will confirm larger bullish case. Next target will be 118.65 resistance. Nonetheless, break of 113.51 will indicate short term topping, on bearish divergence condition in 4 hour MACD, and bring lengthier consolidation first.

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.

Daily Pivots: (S1) 110.78; (P) 111.07; (R1) 111.33; More…

USD/JPY fails to break 111.39 resistance so far despite rally attempt and retreated. Intraday bias is turned neutral first. On the upside, firm break of 111.39 will resume whole rally from 104.62 low. That will also add credence to the case of medium term reversal and target 114.73 resistance for confirmation. On the downside, however, break of 110.34 will indicate near term reversal. And, the consolidation pattern from 111.39 would then start the third leg for 108.10 again before completion.

In the bigger picture, at this point, we’re slightly favoring the case that corrective decline from 118.65 (2016 high) has completed with three waves down to 104.62. Above 111.39 will affirm this view and target 114.73 for confirmation. However, it should be noted that USD/JPY is bounded in medium term falling channel from 118.65 (2016 high). Sustained break of 61.8% retracement of 104.62 to 111.39 at 107.20 will likely resume the fall from 118.65 through 104.62 low.

Daily Pivots: (S1) 103.69; (P) 103.89; (R1) 104.17; More..

USD/JPY’s rebound from 102.58 is still in progress and intraday bias stays on the upside. Sustained break of channel resistance (now at 104.42) will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.43 minor support will turn bias back to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 108.43; (P) 108.65; (R1) 108.88; More…

USD/JPY’s decline continues today and reaches as low as 107.41 so far. Intraday bias remains on the downside and break of 107.31 will target 106.48 fibonacci level. We’d look for strong support around there to bring rebound. However, on the upside, break of 108.80 minor resistance is needed to be the first sign of short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development argues that the corrective pattern from 118.65 is extending. There is risk of dropping further to 61.8% retracement of 98.97 to 118.65 at 106.48. But this level should provide strong support to contain downside and bring resumption of rise from 98.97. However, sustained break of 106.48 will now likely send USD/JPY through 98.97 to resume the corrective fall from 125.85 (2015 high).

Daily Pivots: (S1) 133.33; (P) 134.65; (R1) 135.67; More…

Intraday bias in USD/JPY is turned neutral first on loss of downside momentum. Break of 137.66 resistance will indicate short term bottoming, on bullish convergence condition in 4 hour MACD, ahead of 133.07 medium term fibonacci level. Intraday bias will be turned back to the downside for 142.24 resistance first. However, before, another decline could still be seen to 133.07 medium term fibonacci level or further to 55 week EMA.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.33). Some support should be seen around this zone to bring rebound. However, sustained break of 55 week EMA will pave the way to 61.8% retracement at 121.43.

Daily Pivots: (S1) 143.18; (P) 143.64; (R1) 144.02; More…

Intraday bias in USD/JPY stays neutral for the moment, as consolidation from 140.94 is extending. Upside of current recovery should be limited below 146.58 resistance to bring another decline. Firm break of 140.94 will resume the whole fall from 151.89. Next target will be next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 104.99; (P) 105.25; (R1) 105.61; More...

Intraday bias in USD/JPY remains on the upside at this point. Rebound from 104.00 would target 55 day EMA (now at 106.02). Sustained break there will raise the chance of bullish reversal and target 106.94 resistance for confirmation. On the downside, though, below 104.85 minor support will turn bias back to the downside for retesting 104.00 instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 142.41; (P) 143.68; (R1) 145.12; More…

Intraday bias in USD/JPY stays neutral and outlook is unchanged. Upside of current recovery should be limited below 156.48 resistance to bring another decline. Firm break of 140.94 will resume the whole fall from 151.89. Next target will be next fibonacci level at 136.63.

In the bigger picture, fall from 151.89 is seen as the third leg of the corrective pattern from 151.93 (2022 high). Deeper decline would be seen to 61.8% retracement of 127.20 to 151.89 at 136.63, sustained break there will pave the way to 127.20 support (2022 low). This will now remain the favored as long as 146.58 resistance holds.

Daily Pivots: (S1) 108.46; (P) 108.74; (R1) 109.09; More…

USD/JPY is staying in consolidation above 108.10 temporary low and intraday bias remains neutral first. As long as 109.82 minor resistance holds, near term outlook remains mildly bearish. Below 108.10 will target 61.8% retracement of 104.62 to 111.39 at 107.20. Break will likely resume larger decline from 118.65 for a new low below 104.62. Nonetheless, break of 109.82 will turn focus back to 111.39 resistance instead.

In the bigger picture, USD/JPY remains bounded in medium term falling channel from 118.65 (2016 high). The development. Current deeper than expected fall from 111.39 argues that fall from 118.65 is not finished. Break of 104.62 low would target 98.97 or even below. Though, break of 111.39 will revive the case that fall from 118.65 has completed and turn focus to 114.73 for confirmation.

Daily Pivots: (S1) 108.85; (P) 109.17; (R1) 109.63; More….

Intraday bias in USD/JPY remains neutral for consolidation above 108.12. With 110.10 resistance intact, near term outlook remains bearish. Rise from 98.97 is finished at 118.65 and fall from there would extend. On the downside, break of 108.12 will target 61.8% retracement of 98.97 to 118.65 at 106.48. Sustained break there will pave the way back to 98.97 low. Nonetheless, break of 110.10 will be the first sign of near term bottoming and turn bias back to the upside for 112.19 resistance instead.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. Current development suggests that it’s not completed yet and is extending. In case of deeper decline, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77 to bring rebound. Rise from 75.56 is still expected to resume later after the correction from 125.85 completes.

Daily Pivots: (S1) 108.48; (P) 109.11; (R1) 109.52; More..

USD/JPY is now in consolidation above 104.69 spike low and intraday bias is turned neutral first. More consolidation would be seen but outlook will stay bearish as long as 109.36 minor resistance holds. On the downside, decisive break of 104.62 low will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51, which is close to 100 psychological level.

In the bigger picture, price actions from 125.85 (2015 high) are seen as a long term corrective pattern, no change in this view. Apparently, such corrective pattern is not completed yet. Fall from 114.54 is seen as another medium term down leg, targeting 98.97/104.62 support zone. For now, we’d expect strong support from there to contain downside to bring rebound.

Daily Pivots: (S1) 109.13; (P) 109.44; (R1) 109.61; More…

Despite today’s mild recovery, intraday bias in USD/JPY remains on the downside for retesting 109.02 low. Break will resume fall from 112.40 and target 61.8% retracement of 104.69 to 112.40 at 107.63. In any case, near term outlook will stay bearish as long as 55 day EMA (now at 110.72) holds.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Current development suggests that rebound from 104.69 is only a corrective move. And fall from 118.65 is not completed yet. Decisive break of 104.69 will extend the down trend towards 98.97 support (2016 low). For now, we’d expect strong support above there to bring rebound.

Daily Pivots: (S1) 108.28; (P) 108.50; (R1) 108.67; More…

Intraday bias in USD/JPY remains neutral and consolidation from 107.81 temporary low might extend further. Upside of recovery should be limited by 109.02 support turned resistance to bring fall resumption. On the downside, sustained break of 61.8% retracement of 104.69 to 112.40 at 107.63 will pave the way back to 104.62/9 key support zone. Though, break of 109.02 support turned resistance will indicate short term bottoming and bring lengthier consolidations first.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying indicate long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound.

Daily Pivots: (S1) 111.66; (P) 111.85; (R1) 112.04; More…

USD/JPY is staying in tight range for the moment and intraday bias stays neutral first. Focus remains on 112.13 key resistance. Decisive break there will resume whole rise from 104.69 for 100 % projection of 109.71 to 111.82 and 110.84 at 112.95 first. On the downside, firm break of 111.69 minor support will turn bias to the downside for 110.84 support. Break will bring deeper fall back to 109.71 support.

In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it’s staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.

Daily Pivots: (S1) 161.00; (P) 161.48; (R1) 162.18; More…

Intraday bias in turned neutral with current retreat and some consolidations would be seen below 161.94 temporary top. But further rally is expected as long as 160.25 minor support holds. Break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.