Daily Pivots: (S1) 160.43; (P) 160.63; (R1) 160.98; More…

Intraday bias in USD/JPY is turned neutral again with current retreat. Some consolidations could be seen first and deeper pullback cannot be ruled out. But near term outlook will remain bullish as long as 157.70 resistance turned support holds. break of 161.27 will resume larger up trend to 161.8% projection of 151.86 to 157.70 from 154.53 at 163.97.

In the bigger picture, there is no sign of long term trend reversal yet. Further rally is expected as long as 151.86 support holds. Decisive break of 160.02 will target 100% projection of 127.20 to 151.89 from 140.25 at 164.94.

Daily Pivots: (S1) 107.13; (P) 107.38; (R1) 107.56; More...

USD/JPY is staying consolidation from 106.57 and intraday bias remains neutral at this point. Further decline will remain in favor as long as 108.24 minor resistance holds. On the downside, break of 106.57 will target 105.98 support and below. But downside should be contained by 61.8% retracement of 101.18 to 111.71 at 105.20 to bring rebound. On the upside, break of 108.24 will turn bias back to the upside for 109.85 resistance.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec2016). Hence, there is no clear indication of trend reversal yet. Break of 105.98 support could extend the down trend 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) 105.24; (P) 105.39; (R1) 105.56; More...

No change in USD/JPY’s outlook and further rise is expected with 104.85 support intact. Sustained break of 55 day EMA (now at 106.00) 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) 138.74; (P) 139.52; (R1) 140.30; More…

USD/JPY’s consolidation from 137.66 is extending and intraday bias remains neutral for the moment. Stronger rise cannot be ruled out, but upside should be limited below 145.16 support turned resistance. Break of 137.66 will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend.

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 130.58).

Daily Pivots: (S1) 106.22; (P) 106.89; (R1) 107.28; More…

USD/JPY’s decline continues today and reaches as low as 105.78 so far. 61.8% projection of 112.40 to 106.78 from 109.31 at 105.83 is breached but there is no sign of bottoming yet. Intraday bias stays on the downside at this point. Sustained break of 105.83 will pave the way to retest 104.69 low. On the upside, break of 106.68 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, decline from 118.65 (Dec 2016) not completed yet, with the pair staying inside 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. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

Daily Pivots: (S1) 107.98; (P) 108.30; (R1) 108.76; More…

No change in USD/JPY’s outlook and intraday bias remains mildly on the upside. Further rise should be seen to 109.31 key resistance. Decisive break there will carry larger bullish implications next target will be 100% projection of 104.45 to 108.47 from 106.48 at 110.50. On the downside, below 107.77 minor support will turn intraday bias neutral again.

In the bigger picture,strong support was seen from 104.62 again. Yet, there is not confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 121.80; (P) 122.42; (R1) 123.16; More…

Intraday bias in USD/JPY stays neutral, and with 121.17 support intact, further rally is in favor. On the upside, break of 125.09 will target 161.8% projection of 109.11 to 116.34 from 114.40 at 126.09, which is close to 125.85 long term resistance. However, break of 121.17 will indicate short term topping, and bring deeper pull back.

In the bigger picture, up trend from 98.97 (2016 low) in in progress for retesting 125.85 (2015 high). Sustained break there will confirm long term up trend resumption. Next target will be 61.8% projection of 75.56 (2011 low) to 125.85 (2015 high) from 98.97 at 130.04. This will now remain the favored case as long as 116.34 resistance turned support holds.

Daily Pivots: (S1) 144.92; (P) 145.40; (R1) 145.87; More…

Intraday bias in USD/JPY stays neutral for the moment. On the upside, sustained break of 61.8% projection of 129.62 to 145.06 from 137.22 at 146.76 will pave the way to retest 151.93 high. However, considering bearish divergence condition in 4H MACD, firm break of 44.92 support will be a sign of reversal, and turn bias back to the downside for 55 D EMA (now at 141.95).

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) 129.79; (P) 130.04; (R1) 130.38; More…

Intraday bias in USD/JPY remains neutral as consolidation from 131.24 might extend further. Near term outlook stays bullish with 126.91 support intact and further rally is expected. On the upside, break of 131.24 will resume recent up trend to 261.8% projection of 109.11 to 116.34 from 114.40 at 133.26. However, considering bearish divergence condition in 4 hour MACD, break of 126.91 will confirm short term topping and turn bias back to the downside for 121.27/125.09 support zone.

In the bigger picture, current rally is seen as part of the long term up trend form 75.56 (2011 low). Sustained trading above 61.8% projection of 75.56 (2011 low) to 125.85 (2015 high) from 98.97 at 130.04 will pave the way to 100% projection at 149.26, which is close to 147.68 (1998 high). For now, this will remain the favored case as long as 121.27 support holds.

Daily Pivots: (S1) 136.67; (P) 137.12; (R1) 137.96; More…

Intraday bias in USD/JPY is turned neutral first as it’s losing upside momentum, as seen in 4 hour MACD. Strong resistance could be seen from 139.37 to limit upside, to start the third leg of the corrective pattern from 139.37. Break of 136.17 minor support will turn bias back to the downside for 130.38 support. Nevertheless, decisive break of 139.37 will confirm up trend resumption for 147.68 long term resistance.

In the bigger picture, price actions from 139.37 medium term top are seen as a corrective pattern to up trend from 101.18 (2020 low). While deeper decline cannot be ruled out, outlook will stays bullish as long as 55 week EMA (now at 123.72) holds. Long term up trend is expected to resume through 139.37 at a later stage, after the correction finishes. Next target is 147.68 (1998 high).

Daily Pivots: (S1) 132.33; (P) 133.10; (R1) 134.37; More…

Focus stays on 133.74 resistance in USD/JPY. Firm break there will resume the rebound form 129.62 and target 137.90 resistance again. However, on the downside, below 130.62 will resume the fall from 137.90 through 129.62 to retest 127.20 low.

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) 145.45; (P) 146.12; (R1) 147.07; More…

Outlook in USD/JPY remains unchanged as consolidation from 151.93 is still in progress. Intraday bias stays neutral. Deeper decline might be seen but downside should be contained by 38.2% retracement of 130.38 to 151.93 at 143.69 to bring rebound. On the upside, above 148.84 minor resistance will bring stronger rebound back towards 151.93 high. But upside should be limited there to continue the corrective pattern.

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). 147.68 (1998 high) was already met and there is no clearly sign of topping yet. In any case, break of 140.33 support is needed to be the first sign of medium term topping. Otherwise, further rise is in favor to next target at 160.16 (1990 high).

Daily Pivots: (S1) 149.03; (P) 149.25; (R1) 149.58; More…

Intraday bias in USD/JPY stays neutral and more consolidations could still be seen. But further further rally is expected as long as 147.62 support holds. Above 149.57 will resume the rise from 140.25 to retest 151.89/93 key resistance zone. Decisive break there will confirm resumption of larger up trend.

In the bigger picture, fall from 151.89 is seen as a correction to the rally from 127.20, which might have completed at 140.25 already. Firm break of 151.89/93 resistance zone will confirm up trend resumption, and next target will be 61.8% projection of 127.20 to 151.89 from 140.25 at 155.50. This will now remain the favored case as long as 140.25 support holds.

Daily Pivots: (S1) 0.9119; (P) 0.9149; (R1) 0.9181; More…

USD/CHF is still extending the corrective pattern from 0.9058 low. Intraday bias remains neutral for the moment. Another rise cannot be ruled out. But upside should be limited by 0.9474 fibonacci level. On the downside, firm break of 0.9058 will resume larger down trend from 1.1046.

In the bigger picture, fall from 1.1046 (2022 high) should still be in progress with 38.2% retracement of 1.0146 to 0.9058 at 0.9474 intact. Prior rejection by 55 week EMA was a medium term bearish sign. Break of 0.9058 will resume such decline towards 0.8756 support (2021 low). But overall, this fall is still as a leg in the long term range pattern from 1.0342 (2016 high). So, downside should be contained by 0.8756 to bring reversal.

Daily Pivots: (S1) 150.51; (P) 150.79; (R1) 151.25; More…

No change in USD/JPY’s outlook as consolidation from 151.69 is extending. Intraday bias stays neutral at this point. Further rally is expected as long as 148.79 support holds. Firm break of 151.69 high will resume larger up trend. However, decisive break of 148.79 will indicate rejection by 151.93 key resistance, and bring deeper fall through 147.28 support.

In the bigger picture, immediate focus is on 151.93 resistance (2022 high). Rejection by 151.93, followed by sustained break of 145.06 resistance turned support will argue that rise from 127.20 has completed, and turn outlook bearish for 137.22 support and below. However, sustained break of 151.93 will confirm resumption of long term up trend. Next target will be 61.8% projection of 102.58 to 151.93 from 127.20 at 157.69.

Daily Pivots: (S1) 109.50; (P) 109.77; (R1) 110.07; More…

Intraday bias in USD/JPY remains mildly on the upside with 109.36 minor support intact and further rise is expected. Rebound from 108.10 should target a test on 111.39 resistance next. Break will resume the rebound from 104.62 and target a test on 114.73 key resistance level. However, on the downside, below 109.36 minor support will delay the bullish case and turn bias neutral again.

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) 108.63; (P) 108.98; (R1) 109.21; More..

USD/JPY is staying in range below 109.35 and intraday bias remains neutral first. Further rise is expected as long as 108.33 minor support holds. On the upside, break of 109.35 will resume the rally from 102.58 to long term channel resistance at 110.02 next. Decisive break there will carry larger implications. However, on the downside, break of 108.33 will indicate short term topping. Intraday bias will be turned to the downside for correction.

In the bigger picture, focus is now back on long term channel resistance (now at 110.02). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 111.60; (P) 111.71; (R1) 111.83; More…

USD/JPY’s dip today suggests temporary topping at 111.82 again and intraday bias turns neutral. Another rise is mildly in favor as long as 111.18 minor support holds. On the upside, decisive break of 112.13 will resume whole rally from 104.69 and target 114.54 resistance next. However, on the downside, break of 111.18 will likely extend the consolidation from 112.13 with another fall to 109.71 and possibly below, before completion.

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) 107.33; (P) 107.70; (R1) 108.24; More...

USD/JPY is still staying in range above 106.91 support and intraday bias remains neutral. On the downside, firm break of 106.91 support will resume whole decline from 111.71. Intraday bias will be turned to the downside for 100% projection of 111.71 to 106.91 from 109.38 at 104.58. On the upside, break of 109.38 will suggest that fall from 111.71 has completed. Intraday bias will be turned back to the upside for 111.71/112.22 resistance zone.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 116.48; (P) 116.92; (R1) 117.73; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current up trend from 102.58 should target 118.65 long term resistance next. Firm break there will target 100% projection of 109.11 to 116.34 from 114.40 at 121.63. On the downside, below 117.44 minor support will turn intraday bias neutral and bring consolidation first. But retreat should be contained by 116.34 resistance turned support to bring another rally.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 125.85 (2015 high) and raise the chance of long term up trend resumption. This will remain the favored case as long as 113.46 support holds.