Fri, Jan 22, 2021 @ 22:04 GMT

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.32; (P) 103.50; (R1) 103.66; More..

With 4 hour MACD crossed above signal line, intraday bias is turned neutral first. Overall, USD/JPY is still staying in the falling channel that started from 111.71. Further decline could still be seen. Below 103.31 will bring retest of 102.58 first. Break there will extend the down trend to 101.18 low. However, on the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.32; (P) 103.50; (R1) 103.66; More..

Deeper fall remains mildly in favor in USD/JPY for retesting 120.58 support. Decisive break there will resume the down trend from 111.71 to 101.18 low. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.35; (P) 103.65; (R1) 103.84; More..

Intraday bias in USD/JPY remains mildly on the downside for retesting 120.58. Decisive break there will resume the down trend from 111.71 to 101.18 low. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.35; (P) 103.65; (R1) 103.84; More..

USD/JPY’s break of 103.51 support revives that case that rebound from 102.58 has completed at 104.39 after rejection by falling channel resistance. Intraday bias is back on the downside for retesting 102.58 low first. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.68; (P) 103.88; (R1) 104.12; More..

Intraday bias in USD/JPY stays neutral at this point and outlook is unchanged. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.68; (P) 103.88; (R1) 104.12; More..

USD/JPY is staying in consolidation in range of 103.51/104.39 and intraday bias remains neutral. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.58; (P) 103.75; (R1) 103.87; More..

Intraday bias in USD/JPY remains neutral and more consolidation could be seen below 104.39. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.58; (P) 103.75; (R1) 103.87; More..

USD/JPY is staying in range below 104.39 and intraday bias remains neutral first. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.69; (P) 103.80; (R1) 103.98; More..

Intraday bias in USD/JPY remains neutral and outlook is unchanged. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.69; (P) 103.80; (R1) 103.98; More..

Consolidations continues in USD/JPY and intraday bias remains neutral first. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Weekly Outlook

USD/JPY edged higher to 104.39 last week but failed to break through falling channel resistance, and turned sideway. Initial bias remains neutral this week first. On the upside, break of 104.39 and sustained trading above the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

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 pattern 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.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.51; (P) 103.85; (R1) 104.14; More..

USD/JPY is staying in consolidative trading and intraday bias remains neutral first. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.51; (P) 103.85; (R1) 104.14; More..

Intraday bias in USD/JPY remains neutral for the moment, and outlook is unchanged. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.61; (P) 103.81; (R1) 104.08; More..

Intraday bias in USD/JPY stays neutral at this point. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.61; (P) 103.81; (R1) 104.08; More..

Intraday bias in USD/JPY is turned neutral as it recovered after touching 4 hour 55 EMA. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. On the downside, below 103.51 will turn bias to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.53; (P) 103.93; (R1) 104.14; More..

USD/JPY’s rebound from 102.58 might have completed at 104.39, after rejection by falling channel resistance. Deeper fall would be seen to retest 102.58 low. Break will resume larger down trend from 111.17. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.53; (P) 103.93; (R1) 104.14; More..

USD/JPY was rejected by falling channel resistance and dropped sharply after hitting 104.39. With break of 103.59 minor support, intraday bias is turned back to the downside for retesting 102.58 low. Break will resume larger down trend from 111.17. On the upside, sustained break of the channel resistance will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.89; (P) 104.15; (R1) 104.48; More..

USD/JPY’s rise from 102.58 is still in progress with focus on channel resistance, (now at 104.37). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.59 minor support will turn bias back to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Daily Outlook

Daily Pivots: (S1) 103.89; (P) 104.15; (R1) 104.48; More..

Intraday bias in USD/JPY remains on the upside with focus on channel resistance, (now at 104.38). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.59 minor support will turn bias back to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 103.69; (P) 103.89; (R1) 104.17; More..

Intraday bias in USD/JPY remains on the upside at this point. Rebound from 102.58 short term bottoming is targeting channel resistance, (now at 104.42). Sustained break there will argue that the down trend from 111.71 has finally completed. Stronger rise would be seen to 105.67 resistance for confirmation. Nevertheless, rejection by the channel resistance will maintain bearishness. Break of 103.59 minor support will turn bias back to the downside for retesting 102.58 low.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec. 2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. On the upside, break of 105.67 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.