USD/JPY Daily Outlook

Daily Pivots: (S1) 148.93; (P) 149.13; (R1) 149.35; More…

USD/JPY’s rally from 146.47 continues today and intraday bias stays on the upside for retesting 150.87/89 key resistance. Decisive break there will confirm larger up trend resumption. Next near term target will be 61.8% projection of 140.25 to 150.87 from 146.47 at 153.03. On the downside, below 148.90 minor support will delay the bullish case and turn intraday bias neutral first. But outlook will now remain bullish as long as 146.47 support holds.

In the bigger picture, correction from 151.87 (2023) high could have completed at 140.25 already. Rise from 127.20 (2023 low), as part of the long term up trend, is probably ready to resume. Decisive break of 151.93 resistance (2022 high) will confirm this bullish case. Also, this will remain the favored case as long as 140.25 support holds, in case of another fall.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 148.34; (P) 148.75; (R1) 149.47; More…

USD/JPY’s rebound from 146.47 is still in progress and intraday bias stays on the upside. Corrective fall from 150.87 should have completed at 146.47, after drawing support from 38.2% retracement of 140.25 to 150.87 at 146.81. Further rally should be seen to 150.87/89 key resistance zone. Nevertheless, on the downside, below 148.02 minor support will turn intraday bias neutral first.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54

USD/JPY Daily Outlook

Daily Pivots: (S1) 148.34; (P) 148.75; (R1) 149.47; More…

Intraday bias in USD/JPY remains on the upside for the moment. Corrective fall from 150.87 should have completed at 146.47, after drawing support from 38.2% retracement of 140.25 to 150.87 at 146.81. Further rally should be seen to 150.87/89 key resistance zone. Nevertheless, on the downside, below 148.02 minor support will turn intraday bias neutral first.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54

USD/JPY Weekly Outlook

USD/JPY’s strong rebound last week suggests that corrective fall from 150.87 has completed at 146.47, after drawing support from 38.2% retracement of 140.25 to 150.87 at 146.81. Initial bias remains on the upside this week for retesting 150.87/89 key resistance zone. Nevertheless, on the downside, below 148.02 minor support will turn intraday bias neutral first.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54

In the long term picture, as long as 125.85 resistance turned support holds (2015 high), up trend from 75.56 (2011 low) is still in favor to continue through 151.93 (2022 high) at a later stage.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 147.71; (P) 148.04; (R1) 148.63; More…

Intraday bias in USD/JPY remains on the upside for the moment. Corrective fall from 150.87 could have completed at 146.47 already, after drawing support from 38.2% retracement of 140.25 to 150.87 at 146.81. Further rise should be seen to retest 150.87 next. Nevertheless, on the downside, below 148.02 minor support will turn intraday bias neutral first.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Daily Outlook

Daily Pivots: (S1) 147.71; (P) 148.04; (R1) 148.63; More…

USD/JPY’s break of 148.29 minor resistance argues that fall from 150.87 is merely a correction, and has completed at 146.47. Intraday bias is back on the upside for retesting 150.87. Nevertheless, on the downside, break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 147.31; (P) 147.68; (R1) 148.12; More…

Range trading continues in USD/JPY and intraday bias stays neutral. On the downside, sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already. Retest of 150.87 should be seen next.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Daily Outlook

Daily Pivots: (S1) 147.31; (P) 147.68; (R1) 148.12; More…

Intraday bias in USD/JPY remains neutral for the moment. On the downside, sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already. Retest of 150.87 should be seen next.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 146.85; (P) 147.44; (R1) 148.27; More…

USD/JPY is staying in range between 146.47 and 148.29 and intraday bias remains neutral. On the downside, sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already. Retest of 150.87 should be seen next.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Daily Outlook

Daily Pivots: (S1) 146.85; (P) 147.44; (R1) 148.27; More…

Intraday bias in USD/JPY remains neutral for the moment, and outlook is unchanged. On the downside, sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already. Retest of 150.87 should be seen next.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 146.57; (P) 146.87; (R1) 147.25; More…

Intraday bias in USD/JPY remains neutral at this point. On the downside, sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already. Retest of 150.87 should be seen next.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Daily Outlook

Daily Pivots: (S1) 146.57; (P) 146.87; (R1) 147.25; More…

A temporary low is formed at 146.47 with today’s recovery and intraday bias in USD/JPY is turned neutral first. On the downside, sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already. Retest of 150.87 should be seen next.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 146.33; (P) 147.23; (R1) 147.96; More…

Intraday bias in USD/JPY remains on the downside and outlook is unchanged. Sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Daily Outlook

Daily Pivots: (S1) 146.33; (P) 147.23; (R1) 147.96; More…

Intraday bias in USD/JPY stays on the downside at this point. Sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54.

USD/JPY Weekly Outlook

USD/JPY fell sharply to as low as 146.47 last week and there is no sign of bottoming yet. Initial bias remains on the downside this week. Sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already.

In the bigger picture, no change in the view that price action from 151.89 (2023 high) are correction to up trend from 127.20 (2023 low). The question is whether this correction has completed at 140.25, or extending with fall from 150.87 as the third leg. Sustained break of above mentioned 146.81 fibonacci level will favor the latter case. But even so, downside should be contained by 50% retracement of 127.20 to 151.89 at 139.54

In the long term picture, as long as 125.85 resistance turned support holds (2015 high), up trend from 75.56 (2011 low) is still in favor to continue through 151.93 (2022 high) at a later stage.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 147.28; (P) 148.34; (R1) 149.08; More…

Intraday bias in USD/JPY remains on the downside at this point. Sustained break of 38.2% retracement of 140.25 to 150.87 at 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 148.29 minor resistance resistance, will argue that fall from 150.87 is merely a correction, which has completed already.

In the bigger picture, outlook is mixed up as fall from 150.87 accelerates lower. Sustained trading below 55 D EMA (now at 148.45) will open up the case that corrective pattern from 151.89 (2023 high) is extending, with fall from 150.87 as the third leg. In this case, deeper decline would be seen to 140.25 support or below. Nevertheless, strong bounce from 55 D EMA will retain near term bullishness for at least another take on 151.89.

USD/JPY Daily Outlook

Daily Pivots: (S1) 147.28; (P) 148.34; (R1) 149.08; More…

Intraday bias in USD/JPY remains on the downside for 38.2% retracement of 140.25 to 150.87 at 146.81. Sustained break of there will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 149.20 resistance, will argue that fall from 150.87 is merely a correction, which has completed already.

In the bigger picture, outlook is mixed up as fall from 150.87 accelerates lower. Sustained trading below 55 D EMA (now at 148.45) will open up the case that corrective pattern from 151.89 (2023 high) is extending, with fall from 150.87 as the third leg. In this case, deeper decline would be seen to 140.25 support or below. Nevertheless, strong bounce from 55 D EMA will retain near term bullishness for at least another take on 151.89.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 148.98; (P) 149.53; (R1) 149.97; More…

USD/JPY’s decline accelerates to as low as 147.58 so far. Intraday bias stays on the downside for 38.2% retracement of 140.25 to 150.87 at 146.81. Sustained break of 146.81 will argue that fall from 150.87 is reversing the whole rally from 140.25. In this case, deeper decline would be seen to 61.8% retracement at 144.30 and below. Nevertheless, strong support from 146.81, followed by break of 149.20 resistance, will argue that fall from 150.87 is merely a correction, which has completed already.

In the bigger picture, outlook is mixed up as fall from 150.87 accelerates lower. Sustained trading below 55 D EMA (now at 148.45) will open up the case that corrective pattern from 151.89 (2023 high) is extending, with fall from 150.87 as the third leg. In this case, deeper decline would be seen to 140.25 support or below. Nevertheless, strong bounce from 55 D EMA will retain near term bullishness for at least another take on 151.89.

USD/JPY Daily Outlook

Daily Pivots: (S1) 148.98; (P) 149.53; (R1) 149.97; More…

Intraday bias in USD/JPY back on the downside with strong break of 149.20 support. Fall from 150.87 could either be correcting the rise from 140.25, or completely reversing it. In either case, deeper decline is expected to 38.2% retracement of 140.25 to 150.87 at 146.81. Sustained break there will bolster the latter case, and target 61.8% retracement at 144.30 and below. For now, risk will stay on the downside as long as 150.87 resistance holds, in case of recovery.

In the bigger picture, outlook is mixed up as fall from 150.87 accelerates lower. Sustained trading below 55 D EMA (now at 148.45) will open up the case that corrective pattern from 151.89 (2023 high) is extending, with fall from 150.87 as the third leg. In this case, deeper decline would be seen to 140.25 support or below. Nevertheless, strong bounce from 55 D EMA will retain near term bullishness for at least another take on 151.89.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 149.66; (P) 150.11; (R1) 150.51; More…

Immediate focus is now on 149.20 support in USD/JPY. Firm break there will suggest that price actions from 150.87 are correcting whole rally from 140.25 at least, with prospect of reversing the whole move. Intraday bias will be back to the downside for channel support (now at 148.69), and then 38.2% retracement of 140.25 to 150.87 at 146.81. Nevertheless, strong bounce from current level will maintain near term bullishness. Break of 150.87 will target 151.89/93 key resistance zone.

In the bigger picture, rise from 140.25 is seen as resuming the trend from 127.20 (2023 low). Decisive break of 151.89/.93 resistance zone will confirm this bullish case and target 61.8% projection of 127.20 to 151.89 from 140.25 at 155.50. However, break of 148.79 resistance turned support will delay this bullish case, and extend the corrective pattern from 151.89 with another falling leg.