Daily Pivots: (S1) 154.18; (P) 154.43; (R1) 154.90; More…
Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 154.77 will resume larger up trend. But considering divergence condition in 4H MACD upside should be limited by 155.20 fibonacci projection level. On the downside, below 153.58 will turn bias to the downside for deeper pullback.
In the bigger picture, current rise from 140.25 is seen as the third leg of the up trend from 127.20 (2023 low). Next target is 61.8% projection of 127.20 to 151.89 from 140.25 at 155.20. Outlook will now remain bullish as long as 146.47 support holds, even in case of deep pullback.
