Daily Pivots: (S1) 159.17; (P) 159.82; (R1) 160.39; More…
Intraday bias in USD/JPY remains neutral for the moment. On the downside, sustained break of 55 4H EMA (now at 159.27) should confirm short term topping at 160.45, on bearish divergence condition in 4H MACD. Deeper fall should then be seen to 157.49 support to correct the rally from 152.25. Nevertheless, strong rebound from current level, followed by 160.45, will target 161.94 high.
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 152.97) 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.
 should confirm short term topping at 160.45, on bearish divergence condition in 4H MACD. Deeper fall should then be seen to 157.49 support to correct the rally from 152.25. Nevertheless, strong rebound from current level, followed by 160.45, will target 161.94 high.){kind=link}