Daily Pivots: (S1) 111.31; (P) 111.75; (R1) 112.02; More..

Intraday bias in USD/JPY remains neutral for consolidation below 112.22 temporary top. Downside of retreat should be contained above 110.28 resistance turned support to bring rally resumption. On the upside, firm break of 112.40 resistance will affirm medium term bullishness and target 114.54 key resistance next.

In the bigger picture, current development argues that corrective fall from 118.65 (Dec 2016) might have completed with three waves down to 104.45 already. Focus is back of 114.54 key resistance. Decisive break there will confirm this case and bring resumption of whole rise from 98.97 (2016 low) towards 125.85 (2015 high).

Daily Pivots: (S1) 104.82; (P) 105.00; (R1) 105.16; More..

USD/JPY is losing some upside momentum as seen in 4 hour MACD. But intraday bias stays on the upside with 104.59 minor support intact. Current rise from 102.58 short term bottom is at least correcting the down trend from 111.71. Further rally should target 38.2% retracement of 111.71 to 102.58 at 106.06. On the downside, break of 104.59 minor support will turn intraday bias neutral first, and bring consolidation before staging another rally.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016), and there is no clear indication of trend reversal yet. Though, sustained trading above 55 week EMA (now at 105.97) will be the first sign of reversal and turn focus to channel resistance (now at 110.31).

Daily Pivots: (S1) 130.96; (P) 132.26; (R1) 132.92; More…

Intraday bias in USD/JPY remains on the downside as fall from 139.37 is in progress. Deeper decline would be seen towards 126.35 support. But strong support is expected above there, at least on first attempt, to bring rebound. On the upside, above 132.49 minor resistance will turn intraday bias neutral first, and bring some consolidations.

In the bigger picture, a medium term top should be in place at 139.37, on bearish divergence condition in daily MACD. Fall from there could be correcting whole 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 121.84) holds. Long term up trend is expected to resume through 139.37 at a later stage, after the correction finishes.

Daily Pivots: (S1) 148.35; (P) 148.91; (R1) 149.89; More…

USD/JPY’s rally from 140.25 is still in progress and intraday bias stays on the upside. Further rally would be seen to retest 151.89/93 key resistance zone. Decisive break there will confirm resumption of larger up trend. On the downside, below 147.62 minor support will turn intraday bias neutral first. But near term outlook will remain cautiously bullish as long as 145.88 support holds.

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) 122.26; (P) 123.68; (R1) 125.33; More…

Intraday bias in USD/JPY remains neutral for consolidation below 125.09 temporary top. But downside should be contained by 121.17 minor support to bring another rally. On the upside, above 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) 129.48; (P) 129.88; (R1) 130.25; More…

Intraday bias in USD/JPY stays neutral as sideway trading continues above 127.20. On the downside, break of 127.20 will resume the whole decline from 151.93 and target 121.43 fibonacci level. Nevertheless, on the upside, break of 131.56 resistance should confirm short term bottoming, and turn bias back to the upside for stronger rebound to 55 day EMA (now at 134.01).

In the bigger picture, the break of 55 week EMA (now at 131.39) raises the chance of medium term bearish reversal, but that’s not confirmed yet. Strong support could be seen around 61.8% retracement of 102.58 to 151.93 at 121.43 and 38.2% retracement of 75.56 to 151.93 at 122.75 to bring rebound. But break of 131.56 resistance is needed to indicate bottoming first. Otherwise further fall will remain in favor.

Daily Pivots: (S1) 141.34; (P) 141.85; (R1) 142.41; More…

Further rise in favor in USD/JPY as long as 141.20 minor support holds. Sustained trading above 61.8% retracement of 151.93 to 127.20 at 142.48 would extend the rise from 127.20 towards 151.93 high. However, break of 141.20 minor support will be the first sign of rejection by 142.48, and turn bias back to the downside for 55 D EMA (now at 137.77).

In the bigger picture, rise from 151.93 are seen as a corrective pattern to up trend from 102.58. The first leg has completed at 127.20. Rebound from there is seen as the second leg, and should be limited below 151.93. Sustained trading below 55 D EMA (now at 137.47) will argue that the third leg has started back to 127.20 and possibly below.

Daily Pivots: (S1) 107.40; (P) 107.65; (R1) 108.00; More...

Intraday bias in USD/JPY remains neutral at this point. On the downside, break of 106.91 will extend the decline from 111.71 to 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) 160.43; (P) 160.63; (R1) 160.98; More…

USD/JPY’s rally continues today and intraday bias stays on the upside. Next target is 161.8% projection of 151.86 to 157.70 from 154.53 at 163.97. On the downside, below 60.27 minor support will turn intraday bias neutral again first. But outlook will stay bullish as long as 157.70 resistance turned support holds.

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.

USD/JPY rebounded to 114.29 last week but failed to break through 114.69 resistance and retreated. Initial bias is neutral this week first. On the upside, sustained break of 114.69 will resume larger up trend for 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next. In case the consolidation pattern from 114.69 extends with another fall, we’d continue to expect downside to be contained above 112.07 resistance turned support to bring rebound.

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 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, 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) 114.54; (P) 114.77; (R1) 115.20; More…

Intraday bias in USD/JPY remains neutral at this point and outlook is unchanged. Overall, corrective pattern from 116.34 is extending. Below 114.14 will target 113.46 and possibly further to 112.52 support. On the upside, above 115.68 will bring retest of 116.34 high.

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 120.85 (2015 high) and raise the chance of long term up trend resumption. This will remain the favored case as long as 55 week EMA (now at 111.07) holds.

Daily Pivots: (S1) 118.30; (P) 118.67; (R1) 118.96; More…

A temporary top should be in place at 119.11 with 4 hour MACD staying below signal line. Intraday bias is turned neutral for some consolidations. But downside should be contained well above 116.34 resistance turned support to bring another rally. On the upside, break of 119.11 will resume larger up trend to 100% projection of 109.11 to 116.34 from 114.40 at 121.63.

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). Sustained break of 118.65 (2016 high) 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, even in case of deep pull back.

Daily Pivots: (S1) 107.12; (P) 107.50; (R1) 107.97; More...

Intraday bias in USD/JPY remains on the upside for the moment. Rebound from 106.07 short term bottom should target a test on 109.85 resistance first. Break will argue that larger rebound from 101.18 might be resuming to 112.22 key resistance. On the downside, below 106.79 minor support will dampen the bullish case and turn bias back to the downside for 106.07 instead.

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. 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) 145.46; (P) 146.01; (R1) 146.40; More…

Intraday bias in USD/JPY remains neutral for consolidation below 146.55. 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 conditio in 4H MACD, firm break or 143.88 resistance turned support will be a sign of reversal, and turn bias back to the downside for 55 D EMA (now at 141.79).

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) 147.14; (P) 147.35; (R1) 147.69; More…

USD/JPY’s breach of 147.88 resistance argues that rise from 127.20 is resuming. Intraday bias is back on the upside. Sustained trading above 147.88 will pave the way to retest 151.93 high. On the downside, below 147.00 minor support will turn intraday bias neutral again first. But outlook will remain bullish as long as 145.88 support holds.

In the bigger picture, while rise from 127.20 is strong, it could still be seen as the second leg of the corrective pattern from 151.93 (2022 high). Rejection by 151.93, followed by break of 137.22 support will indicate that the third leg of the pattern has started. However, sustained break of 151.93 will confirm resumption of long term up trend.

Daily Pivots: (S1) 107.27; (P) 107.62; (R1) 107.91; More..

Further rise is still expected in USD/JPY with 106.74 minor support intact. We’re holding on to the view that corrective fall from 111.71 has completed at 105.98. Next target is 109.38 resistance. However, break of 106.74 minor support will dampen the bullish view and turn bias back to the downside.

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) 105.75; (P) 106.20; (R1) 106.46; More...

Focus stays on 105.30 support in USD/JPY. Firm break there will firstly suggest that rebound from 104.18 has completed. More importantly, that would suggest that decline from 111.71 isn’t completed. Intraday bias will be turned back to the downside for retesting 104.18 low. On the upside, though, break of 107.05 resistance will revive the case of bullish reversal and turn bias back to the upside for 108.16 resistance.

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) 106.05; (P) 106.16; (R1) 106.25; More...

Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 107.05 will revive the case that pull back from 111.71 has completed with three waves down to 104.18. Intraday bias will be turned to the upside for 109.85 resistance. On the downside, break of 105.10 will bring retest 104.18 support first.

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) 112.98; (P) 113.32; (R1) 113.57; More…

USD/JPY’s pull back from 114.69 resumes by breaking 113.24 and intraday bias is mildly on the downside. While deeper fall could be seen, we’d still expect downside to be contained above 112.07 resistance turned support to bring rebound. On the upside, break of 113.65 minor resistance will turn bias back to the upside for retesting 114.69. However, sustained break of 112.07 will dampen our bullish view and bring deeper fall back towards 109.11 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 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

Daily Pivots: (S1) 106.55; (P) 107.02; (R1) 107.64; More...

USD/JPY recovered after dipping to 106.35 and intraday bias is turned neutral first. Some support was seen from 61.8% projection of 111.71 to 106.91 from 109.38 at 106.41. The development raises the chance that such decline is merely a correction. Break of 108.04 minor resistance will suggest that such correction has completed and turn bias back to the upside for 109.38 resistance first. Though, break of 106.35 will target 100% projection at 104.58 next.

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.