Daily Pivots: (S1) 126.13; (P) 127.10; (R1) 127.85; More…

USD/JPY’s correction from 131.34 is still in progress and deeper fall could be seen. But downside should be contained by 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86) to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 127.34; (P) 127.70; (R1) 128.25; More…

USD/JPY’s correction from 131.34 is still in progress. Deeper fall could be seen to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). But strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 127.34; (P) 127.70; (R1) 128.25; More…

USD/JPY’s correction from 131.34 is still in progress and deeper fall could be seen to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). But strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 127.55; (P) 127.92; (R1) 128.32; More…

No change in USD/JPY’s outlook and intraday bias remains on the downside. Correction from 131.34 short term top would extend to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). But strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 127.55; (P) 127.92; (R1) 128.32; More…

Intraday bias in USD/JPY stays mildly on the downside at this point. Correction from 131.34 short term top would extend to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). But strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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.

USD/JPY’s correction from 131.34 continued last week and outlook is unchanged. Further fall could be seen as long as 129.77 resistance holds. Such correction could extend to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). But strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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.

In the long term picture, the up trend from 75.56 (2011 low) long term bottom to 125.85 (2015 high) has just resumed. First target at 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 was already met. Next is 100% projection at 149.26, which is close to 147.68 (1998 high).

Daily Pivots: (S1) 126.92; (P) 127.94; (R1) 128.84; More…

USD/JPY’s correction from 131.34 is still in progress and would extend lower to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). Strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 126.92; (P) 127.94; (R1) 128.84; More…

Intraday bias in USD/JPY remains on the downside. Correction from 131.34 would extend lower to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). Strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 127.65; (P) 128.60; (R1) 129.18; More…

USD/JPY’s correction from 131.34 resumed by breaking through 127.51 temporary low. Intraday bias is back on the downside for 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). Strong support is expected from there to contain downside to bring rebound. On the upside, break of 129.77 minor resistance will suggest that the correction is finished and bring retest of 131.34.

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) 127.65; (P) 128.60; (R1) 129.18; More…

Intraday bias in USD/JPY remains neutral and corrective pattern could extend further. Break of break of 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). On the upside, firm break of 131.34 will resume larger up trend.

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) 128.87; (P) 129.32; (R1) 129.82; More…

USD/JPY is staying in consolidation from 131.34 and intraday bias remains neutral for the moment. Another fall could be seen and break of 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). On the upside, firm break of 131.34 will resume larger up trend.

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) 128.87; (P) 129.32; (R1) 129.82; More…

USD/JPY’s consolidation from 131.34 is still extending and intraday bias remains neutral. Another fall could be seen and break of 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). On the upside, firm break of 131.34 will resume larger up trend.

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) 128.68; (P) 129.15; (R1) 129.59; More…

USD/JPY is staying in consolidation from 131.34 and intraday bias remains neutral. Another fall cannot be ruled out and below 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). On the upside, firm break of 131.34 will resume larger up trend.

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) 128.68; (P) 129.15; (R1) 129.59; More…

Intraday bias in USD/JPY remains neutral as consolidation from 131.34 extends. Another fall fall but ruled out and below 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86). On the upside, firm break of 131.34 will resume larger up trend.

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) 128.53; (P) 128.99; (R1) 129.73; More…

USD/JPY is staying in consolidation from 131.34 and intraday bias remains neutral. Risk will stay mildly on the downside with 131.34 resistance intact. Correction from there could extend with another falling leg. Below 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86).

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) 128.53; (P) 128.99; (R1) 129.73; More…

Intraday bias in USD/JPY remains neutral first, and risk stays mildly on the downside with 131.34 resistance intact. Correction from there could extend lower. Below 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86).

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.

USD/JPY edged higher to 131.34 last week but reversed from there and dropped to 127.51. But as a temporary low is formed, initial bias is neutral this week first. Price actions from 131.34 are seen as correcting the whole rally from 114.40. Hence, rise will stay on the downside as long as 131.34 holds. Below 127.51 will target 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86).

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.

In the long term picture, the up trend from 75.56 (2011 low) long term bottom to 125.85 (2015 high) has just resumed. First target at 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 was already met. Next is 100% projection at 149.26, which is close to 147.68 (1998 high).

Daily Pivots: (S1) 127.21; (P) 128.64; (R1) 129.75; More…

Intraday bias in USD/JPY is turned neutral with current recovery. But overall, it’s staying in correction to rise from 114.40, and risk will stay mildly on the downside as long as 131.34 resistance holds. Another fall should be seen to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86).

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) 127.21; (P) 128.64; (R1) 129.75; More…

Intraday bias in USD/JPY remains mildly on the downside at this point. Correction from 131.34 short term top would extend lower to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86), as correction to rise from 114.40. For now, risk will stay mildly on the downside as long as 131.34 resistance holds, in case of recovery.

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) 129.35; (P) 130.08; (R1) 130.71; More…

USD/JPY’s break of 128.61 support confirms that a short term top is at least formed at 131.34. Intraday bias is back on the downside to 125.09 cluster support (38.2% retracement of 114.40 to 131.34 at 124.86), as correction to rise from 114.40. For now, risk will stay mildly on the downside as long as 131.34 resistance holds, in case of recovery.

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.