Daily Pivots: (S1) 112.43; (P) 113.03; (R1) 113.39; More…

Intraday bias in USD/JPY remains neutral at this point. On the upside, break of 113.94 minor resistance will turn bias back to the upside for retesting 115.51 high. However, sustained break of 112.71 will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

Daily Pivots: (S1) 112.49; (P) 113.19; (R1) 113.84; More…

Intraday bias in USD/JPY remains neutral first. On the upside, break of 113.94 minor resistance will turn bias back to the upside for retesting 115.51 high. However, sustained break of 112.71 will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

Daily Pivots: (S1) 112.49; (P) 113.19; (R1) 113.84; More…

USD/JPY breached 112.71 structural support briefly but quickly recovered. Intraday bias is turned neutral first. On the upside, break of 113.94 minor resistance will turn bias back to the upside for retesting 115.51 high. however, sustained break of 112.71 will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

Daily Pivots: (S1) 113.03; (P) 113.50; (R1) 114.00; More…

Intraday bias in USD/JPY remains on the downside with focus on 112.71 support. Sustained break there will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57. On the upside, above 113.94 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 115.51 resistance holds, in case of recovery.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

Daily Pivots: (S1) 113.03; (P) 113.50; (R1) 114.00; More…

Intraday bias in USD/JPY stays mildly on the downside for 112.71 support. Sustained break there will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57. On the upside, above 114.20 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 115.51 resistance holds, in case of recovery.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

Daily Pivots: (S1) 112.48; (P) 113.92; (R1) 114.79; More…

No change in USD/JPY’s outlook and intraday bias remains on the downside for 112.71 support. Sustained break there will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57. For now, risk will stay on the downside as long as 115.51 resistance holds, in case of recovery.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

Daily Pivots: (S1) 112.48; (P) 113.92; (R1) 114.79; More…

Intraday bias in USD/JPY remains on the downside for 112.71 support. Sustained break there will argue that fall from 115.51 is already correcting whole rise from 102.58. Deeper decline would then be seen to 38.2% retracement of 102.58 to 115.51 at 110.57. For now, risk will stay on the downside as long as 115.51 resistance holds, in case of recovery.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY edged higher to 115.51 last week but subsequent sharp fall indicates that a short term top is at least formed. Initial bias is now on the downside this week for 112.71 support first. Sustained break there will argue that it’s already correcting whole rise from 102.58. Deeper fall would be seen to 38.2% retracement of 102.58 to 115.51 at 110.57. For now, risk will stay on the downside as long as 115.51 resistance holds, in case of recovery.

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) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 (2015 high) is viewed as an impulsive move, no change in this view. Price actions from 125.85 are seen as a corrective pattern which could still extend. In case of deeper fall, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77. Up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.

Daily Pivots: (S1) 115.26; (P) 115.36; (R1) 115.48; More…

Focus is immediately on 113.58 support with today’s sharp decline. Firm break there will suggest that fall from 115.51 is correcting the rise from 109.11 at least. Deeper fall would be seen to 112.71 support and below. On the upside, though, break of 115.51 will resume larger up trend from 102.58.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 115.26; (P) 115.36; (R1) 115.48; More…

Intraday bias in USD/JPY is turned neutral with current retreat. Further rally will be expected as long as 113.57 support holds. Break of 115.51 temporary top will resume larger up trend to 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. However, break of 113.57 will indicate that larger correction is underway, and targets 112.71 support next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 114.99; (P) 115.26; (R1) 115.68; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current up trend from 102.58 should target 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, below 114.81 minor support will turn intraday bias neutral first. But break of 113.57 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 114.69; (P) 114.93; (R1) 115.37; More…

USD/JPY’s rally continues today and intraday bias remains on the upside. Current up trend from 102.58 should target 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, below 114.81 minor support will turn intraday bias neutral first. But break of 113.57 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 114.69; (P) 114.93; (R1) 115.37; More…

Intraday bias in USD/JPY remains on the upside at this point. Current up trend from 102.58 should target 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, break of 113.57 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 114.22; (P) 114.59; (R1) 115.24; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current up trend from 102.58 should target 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, break of 113.57 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 114.22; (P) 114.59; (R1) 115.24; More…

USD/JPY’s break of 114.96 resistance confirms resumption of whole up trend from 102.58. Intraday bias is back on the upside. Current rise should target 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, break of 113.57 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 113.56; (P) 114.05; (R1) 114.51; More…

Intraday bias in USD/JPY remains neutral first. On the upside, break of 114.96 will resume larger up trend from 102.58. Intraday bias will be turned to the upside for 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. On the downside, below 113.57 minor support will bring another fall to 112.71 support instead.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 113.56; (P) 114.05; (R1) 114.51; More…

Intraday bias in USD/JPY is turned neutral again with today’s recovery. For now, break of 114.96 is needed to confirm up trend resumption. Otherwise, outlook will be neutral for more corrective trading first. As long as 112.71 support holds, such consolidation should be relatively brief. However, firm break of 112.71 will bring deeper correction back towards 111.65 resistance turned support.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

USD/JPY breached 114.69 resistance to 114.96 last week, but quickly retreated. Initial bias is mildly on the downside this week for 112.71 structural support. Firm break there will bring deeper correction bask towards 111.65 resistance turned support. On the upside, break of 114.96 is now needed to confirm up trend resumption. Otherwise, outlook will be neutral for more corrective trading first.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

In the long term picture, the rise from 75.56 (2011 low) long term bottom to 125.85 (2015 high) is viewed as an impulsive move, no change in this view. Price actions from 125.85 are seen as a corrective pattern which could still extend. In case of deeper fall, downside should be contained by 61.8% retracement of 75.56 to 125.85 at 94.77. Up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.

Daily Pivots: (S1) 113.92; (P) 114.20; (R1) 114.52; More…

Intraday bias in USD/JPY is turned back to the downside with break of 113.74 minor support. Fall from 114.96 would target 112.71 structural support next. Firm break there will bring deeper correction bask towards 111.65 resistance turned support. On the upside, break of 114.96 is now needed to confirm up trend resumption. Otherwise, outlook will be neutral for more corrective trading first.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 113.92; (P) 114.20; (R1) 114.52; More…

Intraday bias in USD/JPY remains neutral as consolidation from 114.95 is extending. Further rise is expected as long as 113.74 minor support holds. Break of 114.96 will resume larger up trend to 100% projection of 102.58 to 111.65 from 109.11 at 118.18. However, break of 113.74 will dampen this bullish case and turn bias back to the downside for 112.71 near term structural support.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 118.65 high. This will now be the preferred case as long as 111.65 resistance turned support holds, even in case of deep pull back.