Daily Pivots: (S1) 152.54; (P) 152.90; (R1) 153.23; More…
Intraday bias in USD/JPY stays mildly on the downside for the moment. Fall from 153.24 is seen as the third leg of the corrective pattern from 153.26. Sustained trading below 55 4H EMA (now at 151.95) will target 149.37 support next. On the upside, though, break of 153.24 will resume larger rally from 139.87.
In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. On the downside, break of 145.47 support will dampen this bullish view and extend the corrective pattern with another falling leg.
 will target 149.37 support next. On the upside, though, break of 153.24 will resume larger rally from 139.87.){kind=link}