Daily Pivots: (S1) 135.43; (P) 136.00; (R1) 136.88; More…

With current retreat, a temporary top is formed in USD/JPY at 137.76, ahead of 137.90 resistance. Intraday bias is turned neutral for some consolidations first. Further rally will remain in favor as long as 135.13 resistance turned support holds. Decisive break of 137.90 will resume whole rebound from 127.20, and target 100% projection of 127.20 to 137.90 from 129.62 at 140.32. However, firm break of 135.13 will turn bias back to the downside for 133.00 support and below.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 61.8% retracement at 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting through 127.20 low.

Daily Pivots: (S1) 136.57; (P) 137.05; (R1) 137.96; More…

Intraday bias in USD/JPY remains on the upside with focus on 137.90 resistance. Decisive break there will resume whole rebound from 127.20, and target 100% projection of 127.20 to 137.90 from 129.62 at 140.32. On the downside, below 136.56 support will turn intraday bias remains neutral first. But further rally will remain in favor as long as 135.13 resistance turned support holds, in case of retreat.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 61.8% retracement at 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting through 127.20 low.

Daily Pivots: (S1) 136.57; (P) 137.05; (R1) 137.96; More…

Intraday bias in USD/JPY remains on the upside at this point. The break of near term channel resistance indicates upside acceleration. Firm break of 137.90 will resume whole rebound from 127.20, and target 100% projection of 127.20 to 137.90 from 129.62 at 140.32. On the downside, below 136.56 support will turn intraday bias remains neutral first. But further rally will remain in favor as long as 135.13 resistance turned support holds, in case of retreat.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 61.8% retracement at 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting through 127.20 low.

Daily Pivots: (S1) 134.42; (P) 135.49; (R1) 137.38; More…

USD/JPY’s rally continues today and intraday bias remains on the upside for 137.90 resistance. Break there will resume whole rebound from 127.20, and target 100% projection of 127.20 to 137.90 from 129.62 at 140.32. On the downside, below 135.13 support will turn intraday bias remains neutral first. But further rally will remain in favor as long as 133.00 support holds, in case of retreat.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 61.8% retracement at 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting through 127.20 low.

USD/JPY’s rise from 129.62 resumed last week and accelerated to as high as 136.55. Initial bias stays on the upside for 137.90 resistance. Firm break there will resume whole rebound from 127.20, and target 100% projection of 127.20 to 137.90 from 129.62 at 140.32. For now, further rally will remain in favor as long as 133.00 support holds, in case of retreat.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 61.8% retracement at 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting through 127.20 low.

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) 133.42; (P) 133.81; (R1) 134.38; More…

Intraday bias in USD/JPY remains on the upside for the moment. Decisive break of channel resistance, (now at 136.26). will raise the chance of resumption of whole rise from 127.20, and target 137.90 resistance and above. For now, further rally will remain in favor as long as 133.00 support holds, in case of retreat.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting to 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61.

Daily Pivots: (S1) 133.42; (P) 133.81; (R1) 134.38; More…

USD/JPY’s rebound from 129.62 resumed by breaking through 135.13 resistance today. Intraday bias is back on the upside with focus on near term channel resistance (now at 136.17). Sustained break there will raise the chance of resumption of whole rise from 127.20, and target 137.90 resistance and above. For now, further rally will remain in favor as long as 133.00 support holds, in case of retreat.

In the bigger picture, price actions from 151.93 high are currently seen as a corrective pattern to the long term up trend. The first leg should have completed at 127.20. Rebound from there is seen as the second leg. Sustained break of 31.8% retracement of 151.93 to 127.20 at 136.34 will bring stronger rebound to 142.48. Meanwhile, break of 129.62 will argue that the third leg is starting to 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61.

Daily Pivots: (S1) 133.13; (P) 133.55; (R1) 134.07; More…

USD/JPY is still bounded in consolidation from 135.13 and intraday bias remains neutral for the moment. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.13; (P) 133.55; (R1) 134.07; More…

Intraday bias in USD/JPY remains neutral and outlook is unchanged. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.24; (P) 133.85; (R1) 134.33; More…

USD/JPY’s pull back from 135.13 extends lower today, but stays well above 132.03 support. Intraday bias remains neutral first. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.24; (P) 133.85; (R1) 134.33; More…

USD/JPY is still extending the consolidation from 135.13 and outlook is unchanged. Intraday bias remains neutral for the moment. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.86; (P) 134.29; (R1) 134.70; More…

Intraday bias in USD/JPY remains neutral as consolidation from 135.13 continues. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.86; (P) 134.29; (R1) 134.70; More…

USD/JPY is still bounded in consolidation below 135.13 and intraday bias remains neutral for the moment. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.85; (P) 134.41; (R1) 134.82; More…

Intraday bias in USD/JPY remains neutral at this point. Further rally is expected as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next. However, break of 132.03 will argue that the rebound has completed already and turn bias back to the downside for 129.62 and below.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

USD/JPY’s rally continued to 135.13 last week but retreated again from there. Initial bias remain s neutral this week first. Another rise will remain in favor as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

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) 133.85; (P) 134.41; (R1) 134.82; More…

USD/JPY’s retreat from 135.13 extends lower today but stays above 132.03 support. Outlook is unchanged and intraday bias remains neutral first. Another rally will remain in favor as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.85; (P) 134.41; (R1) 134.82; More…

Intraday bias in USD/JPY stays neutral at this point. Some more consolidations could be seen below 135.13. But another rally will remain in favor as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 134.07; (P) 134.60; (R1) 135.24; More…

Intraday bias in USD/JPY is turned neutral with current retreat and some consolidations could be seen. But another rally will remain in favor as long as 132.03 support holds. On the upside, break of 135.13 will resume the choppy rebound from 129.62 towards 137.90 resistance next.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 134.07; (P) 134.60; (R1) 135.24; More…

Intraday bias in USD/JPY remains on the upside for the moment. Rally from 129.62 is still in progress and further rise should be seen towards 137.90 resistance. On the downside, below 133.85 minor support will turn intraday bias neutral again. But further rally will remain in favor as long as 132.03 support holds.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.

Daily Pivots: (S1) 133.74; (P) 134.23; (R1) 134.58; More…

Intraday bias in USD/JPY stays on the upside as rally from 129.62 is in progress. Further rise should be seen towards 137.90 resistance. On the downside, below 133.85 minor support will turn intraday bias neutral again. But further rally will remain in favor as long as 132.03 support holds.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8% projection of 151.93 to 127.20 from 137.90 at 122.61. This will now be the favored case as long as 137.90 resistance holds.