Daily Pivots: (S1) 106.85; (P) 107.31; (R1) 108.09; More...

Intraday bias in USD/JPY remains mildly on the upside at this point. Corrective fall from 111.71 could have completed with three waves down to 105.98 already. Further rise would be seen to 109.38 resistance first. Break there will target a retest on 111.71. For now, risk will stay on the upside as long as 105.98 support holds, in case of retreat.

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) 106.85; (P) 107.31; (R1) 108.09; More...

USD/JPY’s break of 107.49 resistance suggests that corrective fall from 111.71 has completed already, with three waves down to 105.98. Intraday bias is back on the upside for 109.38 resistance first. Break there will target a retest on 111.71. For now, risk will stay on the upside as long as 105.98 support holds, in case of retreat.

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) 106.36; (P) 106.55; (R1) 106.89; More...

Focus remains on 107.49 resistance in USD/JPY. Firm break there will suggest that corrective fall from 111.71 has completed with three waves down to 105.98. Intraday bias will be turned back to the upside for 109.38 resistance. Break there will bring retest of 111.71. On the downside, break of 105.98 will resume the fall from 111.71 instead.

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) 106.36; (P) 106.55; (R1) 106.89; More...

USD/JPY’s recovery from 105.98 extends higher today and focus is back on 107.49 resistance. Break there will suggest short term bottoming. Corrective decline from 111.71 might have completed too. Intraday bias will be turned back to the upside for 109.38 resistance first. On the downside, break of 105.98 will extend the fall from 111.71 to 100% projection of 111.71 to 106.91 from 109.38 at 104.58.

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.

USD/JPY edged lower to 105.98 last week but recovered. Initial bias remains neutral this week first. Fall from 111.71 is still in progress despite weak downside momentum. Break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. On the upside, break of 107.49 resistance will suggest completion of the fall and turn bias to the upside for 109.38 resistance 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.

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 move 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) 105.95; (P) 106.31; (R1) 106.62; More...

Intraday bias in USD/JPY stays neutral at this point. With 107.49 resistance intact, further decline is expected. On the downside, break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

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) 105.95; (P) 106.31; (R1) 106.62; More...

Intraday bias in USD/JPY remains neutral for the moment and further decline is expected with 107.29 resistance intact. On the downside, break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

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) 105.84; (P) 106.24; (R1) 106.48; More...

A temporary low is formed at 105.98 in USD/JPY and intraday bias is turned neutral first. Further decline is expected as long as 107.49 resistance holds. Break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

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) 105.84; (P) 106.24; (R1) 106.48; More...

Intraday bias in USD/JPY stays on the downside. Current fall from 111.71 would target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. At this point, downside momentum as seen in 4 hour MACD is still unconvincing. The structure of the fall from 111.71 doesn’t warrant that it’s an impulsive move resuming larger down trend. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

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) 106.34; (P) 106.62; (R1) 106.82; More...

Intraday bias in USD/JPY remains on the downside as fall from 111.71 is in progress. Next target is 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. At this point, downside momentum as seen in 4 hour MACD is still unconvincing. The structure of the fall from 111.71 doesn’t warrant that it’s an impulsive move resuming larger down trend. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

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) 106.34; (P) 106.62; (R1) 106.82; More...

USD/JPY’s break of 106.35 suggests resumption of whole decline from 111.71. Intraday bias is back on the downside for 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. At this point, downside momentum as seen in 4 hour MACD is still unconvincing. The structure of the fall from 111.71 doesn’t warrant that it’s an impulsive move resuming larger down trend. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

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) 106.55; (P) 106.81; (R1) 106.98; More...

Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 108.04 resistance will suggest completion of correction from 111.71. Intraday bias will be turned back to the upside for 109.38 resistance and above. On the downside, break of 106.35 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. Reactions from there could reveal whether fall from 111.71 is corrective or impulsive.

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) 106.55; (P) 106.81; (R1) 106.98; More...

USD/JPY is staying in range trading and intraday bias remains neutral first. On the upside, break of 108.04 resistance will suggest completion of correction from 111.71. Intraday bias will be turned back to the upside for 109.38 resistance and above. On the downside, break of 106.35 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. Reactions from there could reveal whether fall from 111.71 is corrective or impulsive.

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) 106.54; (P) 106.98; (R1) 107.34; More...

Intraday bias in USD/JPY remains neutral and outlook is unchanged. On the upside, break of 108.04 resistance will suggest completion of correction from 111.71. Intraday bias will be turned back to the upside for 109.38 resistance and above. On the downside, break of 106.35 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. Reactions from there could reveal whether fall from 111.71 is corrective or impulsive.

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) 106.54; (P) 106.98; (R1) 107.34; More...

Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 108.04 resistance will suggest completion of correction from 111.71. Intraday bias will be turned back to the upside for 109.38 resistance and above. On the downside, break of 106.35 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. Reactions from there could reveal whether fall from 111.71 is corrective or impulsive.

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.

USD/JPY dropped to 106.35 last week but recovered since then. Some support was seen from 61.8% projection of 111.71 to 106.91 from 109.38 at 106.41. Yet, the strength of the recovery was very limited. Initial bias remains neutral this week first. On the downside, break of 106.35 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. Reactions from there could reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 108.04 resistance will suggest completion of the fall form 111.71 and target 109.38 resistance 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.

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 move 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) 106.55; (P) 107.02; (R1) 107.64; More...

Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 108.04 resistance will indicate short term bottoming. Also, fall from 111.71 is merely a correction that has completed at 106.35. Intraday bias will be turned to the upside for 109.38 resistance first. On the downside, though, break of 106.35 will target 100% projection projection of 111.71 to 106.91 from 109.38 at 104.58 instead.

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) 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.

Daily Pivots: (S1) 106.33; (P) 106.62; (R1) 106.87; More...

USD/JPY continues to lose downside momentum as seen in 4 hour MACD. But there is no sign of bottoming yet. Fall from 111.71 is still in progress for 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Momentum of the current decline and reaction from 104.58 should reveal whether USD/JPY is resuming larger down trend. On the upside, break of 108.04 resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor even in case of recovery.

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) 106.33; (P) 106.62; (R1) 106.87; More...

USD/JPY’s fall from 111.71 is still in progress even though downside momentum is diminishing a little it, as seen in 4 hour MACD. Intraday bias stays on the downside for 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Momentum of the current decline and reaction from 104.58 should reveal whether USD/JPY is resuming larger down trend. On the upside, break of 108.04 resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor even in case of recovery.

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.