Daily Pivots: (S1) 159.42; (P) 159.64; (R1) 159.98; More…
Intraday bias in USD/JPY is back on the upside with breach of 159.88 resistance. Rise from 152.52 is resuming and further rally should be seen to retest 161.94 high. For now, outlook will remain bullish as long as 157.49 support holds, in case of retreat.
In the bigger picture, outlook is unchanged that corrective pattern from 161.94 (2024 high) should have completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94. This will remain the favored case as long as 55 W EMA (now at 152.70) holds. Firm break of 161.94 will pave the way to 61.8% projection of 102.58 to 161.94 from 139.87 at 176.75.






