Daily Pivots: (S1) 103.51; (P) 103.85; (R1) 104.14; More..

USD/JPY is staying in consolidative trading and intraday bias remains neutral first. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.51; (P) 103.85; (R1) 104.14; More..

Intraday bias in USD/JPY remains neutral for the moment, and outlook is unchanged. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.61; (P) 103.81; (R1) 104.08; More..

Intraday bias in USD/JPY stays neutral at this point. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.61; (P) 103.81; (R1) 104.08; More..

Intraday bias in USD/JPY is turned neutral as it recovered after touching 4 hour 55 EMA. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.53; (P) 103.93; (R1) 104.14; More..

USD/JPY’s rebound from 102.58 might have completed at 104.39, after rejection by falling channel resistance. Deeper fall would be seen to retest 102.58 low. Break will resume larger down trend from 111.17. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.53; (P) 103.93; (R1) 104.14; More..

USD/JPY was rejected by falling channel resistance and dropped sharply after hitting 104.39. With break of 103.59 minor support, intraday bias is turned back to the downside for retesting 102.58 low. Break will resume larger down trend from 111.17. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.89; (P) 104.15; (R1) 104.48; More..

USD/JPY’s rise from 102.58 is still in progress with focus on channel resistance, (now at 104.37). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.59 minor support will turn bias back to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.89; (P) 104.15; (R1) 104.48; More..

Intraday bias in USD/JPY remains on the upside with focus on channel resistance, (now at 104.38). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.59 minor support will turn bias back to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.69; (P) 103.89; (R1) 104.17; More..

Intraday bias in USD/JPY remains on the upside at this point. Rebound from 102.58 short term bottoming is targeting channel resistance, (now at 104.42). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.59 minor support will turn bias back to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.69; (P) 103.89; (R1) 104.17; More..

USD/JPY’s rebound from 102.58 is still in progress and intraday bias stays on the upside. Sustained break of channel resistance (now at 104.42) will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.43 minor support will turn bias back to the downside for retesting 102.58 low.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY staged a strong rebound after dipping to 102.58 last week. Break of 103.89 resistance suggests short term bottoming on bullish convergence condition in 4 hour MACD. Initial bias is mildly on the upside this week for channel resistance (now at 104.47). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness, for extending the down trend through 102.58 at a later stage.

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. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

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) 103.19; (P) 103.58; (R1) 104.20; More..

Intraday bias in USD/JPY remains mildly on the upside at this point. As short term bottom should be in place at 102.58, on bullish convergence condition in 4 hour MACD. Further rise should be seen to channel resistance (now at 104.27). Sustained break there will suggest that down trend from 111.17 has completed and bring further rise to 105.67 resistance to confirm. Though, rejection by the channel resistance will keep near term outlook bearish, for extending the down trend through 102.58.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.19; (P) 103.58; (R1) 104.20; More..

The breach of 103.89 resistance suggests that a short term bottom is in place at 102.58, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside for further rise to channel resistance (now at 104.27). Sustained break there will suggest that down trend from 111.17 has completed and bring further rise to 105.67 resistance to confirm. Though, rejection by the channel resistance will keep near term outlook bearish, for extending the down trend through 102.58.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 102.63; (P) 103.03; (R1) 103.48; More..

Intraday bias in USD/JPY stays neutral for the moment. But outlook stays bearish with 103.89 resistance intact. On the downside, break of 102.58 will extend the down trend from 111.17 to retest 101.18 low. However, firm break of 103.89 will indicate short term bottoming, and turn bias to the upside for stronger rebound.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 102.63; (P) 103.03; (R1) 103.48; More..

Intraday bias in USD/JPY remains neutral at this point. But outlook stays bearish with 103.89 resistance intact. ON the downside, break of 102.58 will extend the down trend from 111.17 to retest 101.18 low. However, firm break of 103.89 will indicate short term bottoming, and turn bias to the upside for stronger rebound.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 102.49; (P) 102.84; (R1) 103.07; More..

Intraday bias in USD/JPY is turned neutral with against with today’s recovery. Outlook will remain bearish as long as 103.89 resistance holds. Break of 102.58 will extend the down trend from 111.17 to retest 101.18 low. However, firm break of 103.89 will indicate short term bottoming, and turn bias to the upside for stronger rebound.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 102.49; (P) 102.84; (R1) 103.07; More..

Intraday bias in USD/JPY remains on the downside at this point. Current down trend from 111.17 is in progress for retesting 101.18 low. On the upside, break of 103.89 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 102.80; (P) 103.06; (R1) 103.41; More..

Despite diminishing downside momentum, intraday bias in USD/JPY remains on the downside. Current down trend from 111.17 is in progress for retesting 101.18 low. On the upside, break of 103.89 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 102.80; (P) 103.06; (R1) 103.41; More..

Intraday bias in USD/JPY stays on the downside as down trend from 111.71 is in progress. Deeper fall should be seen to retest 101.18 low. On the upside, break of 103.89 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 103.18; (P) 103.25; (R1) 103.32; More..

Break of 102.87 suggests resumption of down trend from 111.71. USD/JPY should target a test on 101.18 low. On the upside, break of 103.89 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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. On the upside, break of 106.10 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.