Daily Pivots: (S1) 108.32; (P) 108.65; (R1) 108.95; More…

Intraday bias in USD/JPY is neutral for the moment but risk stays on the downside with 109.68 resistance intact. Break of 107.47 will resume the decline from 110.95 to 100% projection of 110.95 to 107.47 from 109.68 at 106.20. However, break of 109.68 will resume the rebound from 107.47 to retest 110.95 instead.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

Daily Pivots: (S1) 108.53; (P) 108.79; (R1) 109.11; More…

No change in USD/JPY’s outlook as further decline is expected to 107.47 support first. Break of 107.47 will resume whole decline from 110.95 for 100% projection of 110.95 to 107.47 from 109.68 at 106.20 next. Risk will remain on the downside as long as 109.68 resistance holds.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

Daily Pivots: (S1) 108.53; (P) 108.79; (R1) 109.11; More…

Further fall is expected in USD/JPY to 107.47 support, as long as 109.68 resistance holds. Break of 107.47 will resume whole decline from 110.95 for 100% projection of 110.95 to 107.47 from 109.68 at 106.20 next.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

Daily Pivots: (S1) 108.20; (P) 108.74; (R1) 109.15; More…

No change in USD/JPY’s outlook and intraday bias stays mildly on the downside for 107.47 support first. Break there will resume whole decline from 110.95 for 100% projection of 110.95 to 107.47 from 109.68 at 106.20 next. For now, risk will stay on the downside as long as 109.68 resistance holds, in case of recovery.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

Daily Pivots: (S1) 108.20; (P) 108.74; (R1) 109.15; More…

Intraday bias in USD/JPY stays mildly on the downside for 107.47 support first. Break there will resume whole decline from 110.95 for 100% projection of 110.95 to 107.47 from 109.68 at 106.20 next. For now, risk will stay on the downside as long as 109.68 resistance holds, in case of recovery.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

USD/JPY edged higher to 109.68 last week, but subsequent fall argues that rebound from 107.47 might have completed. More importantly, the decline from 110.95 might still be in progress. Initial bias stays on the downside this week for 107.47 first. Break will target 100% projection of 110.95 to 107.47 from 109.68 at 106.20 next. For now, risk will stay on the downside as long as 109.68 resistance holds, in case of recovery.

In the bigger picture, medium term outlook is staying neutral with 111.71 resistance intact. We’d monitor the structure of the fall from 110.95, to assess whether it’s just correction to rise from 102.58 to 110.95, or a leg of a range pattern between 101.18 and 111.71, or starting another leg of the long term down trend.

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) 108.91; (P) 109.17; (R1) 109.34; More…

USD/JPY’s break of 108.70 minor support suggests that recovery form 107.47 has completed at 109.68. That also argues that the decline from 110.95 isn’t over yet. Intraday bias is back on the downside for 107.47 first. Break there will resume the fall from 110.95. For now, risk will stay on the downside as long as 109.68 resistance holds, in case of recovery.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 108.91; (P) 109.17; (R1) 109.34; More…

Intraday bias in USD/JPY remains neutral as consolidation form 109.68 is extending. With 108.70 minor support intact, further rise is in favor. On the upside, break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 109.07; (P) 109.28; (R1) 109.40; More…

USD/JPY is staying in consolidation from 109.68 and intraday bias remains neutral. Further rise is in favor with 108.70 minor support intact. On the upside, break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 109.07; (P) 109.28; (R1) 109.40; More…

Intraday bias in USD/JPY remains neutral for consolidation below 109.68 temporary top. Further rise is in favor with 108.70 minor support intact. On the upside, break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 109.05; (P) 109.27; (R1) 109.51; More…

No change in USD/JPY’s outlook and intraday bias stays neutral first. Further rise is in favor with 108.70 minor support intact. On the upside, break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 109.05; (P) 109.27; (R1) 109.51; More…

Intraday bias in USD/JPY remains neutral, and further rise is in favor with 108.70 minor support intact. On the upside, break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 108.75; (P) 109.23; (R1) 109.55; More…

Intraday bias in USD/JPY is neutral for some consolidations. but further rise is in favor with 108.70 minor support intact. Break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 108.75; (P) 109.23; (R1) 109.55; More…

With 108.70 minor support intact, further rise is still in favor in USD/JPY. Rebound from 107.47 would target 109.95 resistance first. Break there will pave the way to retest 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 108.91; (P) 109.13; (R1) 109.54; More…

Intraday bias in USD/JPY stays mildly on the upside at this point. Rebound from 107.47 will target 109.95 resistance first. Break there will pave the way to retest 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

Daily Pivots: (S1) 108.91; (P) 109.13; (R1) 109.54; More…

USD/JPY’s rebound from 107.47 continues today and hits as high as 109.58 so far. Intraday bias stays on the upside for 109.95 resistance first. Break there will pave the way to retest 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

USD/JPY rebounded strong last week, after drawing support from 55 day EMA. Further rise is mildly in favor as long as 108.42 minor support holds, to 109.95 resistance first. Break there will target 110.95 high next. Nevertheless, break of 108.42 minor support will turn bias to the downside, to resume the fall from 110.95 through 107.47.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullish for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

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) 108.50; (P) 108.86; (R1) 109.28; More…

No change in USD/JPY’s outlook. Further rise is in favor for 109.95 resistance first. Break there will bring retest of 110.95 high. On the downside, break of 108.42 minor support will turn bias to the downside for 107.47 support again.

In the bigger picture, rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the price actions from 110.95 to gauge the chance of upside breakout at a later stage.

Daily Pivots: (S1) 108.50; (P) 108.86; (R1) 109.28; More…

With 108.42 minor support intact, further rise is in favor in USD/JPY for 109.95 resistance first. Break there will bring retest of 110.95 high. On the downside, break of 108.42 minor support will turn bias to the downside for 107.47 support again.

In the bigger picture, rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the price actions from 110.95 to gauge the chance of upside breakout at a later stage.

Daily Pivots: (S1) 108.43; (P) 108.76; (R1) 108.94; More…

USD/JPY’s rebound from 107.47 resumed after brief retreat. Intraday bias is back on the upside for 109.95 resistance first. Break till bring retest of 110.95 high. On the downside, break of 108.42 minor support will turn bias to the downside for 107.47 support again.

In the bigger picture, rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the price actions from 110.95 to gauge the chance of upside breakout at a later stage.