Mon, Jul 22, 2019 @ 18:25 GMT

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.33; (P) 107.65; (R1) 108.09; More…

No change in USD/JPY’s outlook. With 108.37 resistance intact, further fall is expected for 106.78 low. Decisive break there will resume whole decline from 112.40 and target 104.69 low. On the upside, break of 108.37 will extend the correction from 106.78 with another rise, possibly through 108.99 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 107.33; (P) 107.65; (R1) 108.09; More…

With 108.37 minor resistance intact, further decline is still in favor in USD/JPY for 106.78 low. Decisive break there will resume whole decline from 112.40 and target 104.69 low. On the upside, break of 108.37 will extend the correction from 106.78 with another rise, possibly through 108.99 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Weekly Outlook

USD/JPY’s gyrated lower last week as fall from 108.99 extends. Deeper fall should be seen initially this week for 106.78. Decisive break there will resume whole decline from 112.40 and target 104.69 low. On the upside, break of 108.37 will extend the correction from 106.78 with another rise, possibly through 108.99 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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 move 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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.00; (P) 107.51; (R1) 107.81; More…

No change in USD/JPY’s outlook, corrective recovery from 106.78 should have completed at 108.99, after rejection by 55 day EMA. Further fall would be seen to 106.78 first. Decisive break there will resume whole decline from 112.40 and target 104.69 low. On the upside, break of 108.37 will extend the correction from 106.78 with another rise, possibly through 108.99 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 107.00; (P) 107.51; (R1) 107.81; More…

Intraday bias in USD?JPY remains on the downside for 106.78 support first. Break there will resume whole decline from 112.40 and target 104.69 low. On the upside, break of 108.37 will extend the correction from 106.78 with another rise, possibly through 108.99 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.81; (P) 108.07; (R1) 108.20; More…

Further fall is expected in USD/JPY as long as 108.37 minor resistance holds. Corrective rebound from 106.78 should have completed at 108.99, after rejection by 55 day EMA. Break of 106.78 support will resumer larger decline from 112.40 to retest 104.69 low. Though, break of 108.37 will dampen this bearish view and turn focus to 108.99 resistance.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 107.81; (P) 108.07; (R1) 108.20; More…

Intraday bias in USD/JPY is turned to the downside with break of 107.79 temporary low. Corrective rebound from 106.78 should have completed at 108.99, after rejection by 55 day EMA. Break of 106.78 support will resumer larger decline from 112.40 to retest 104.69 low. On the upside, break of 108.99 resistance is needed to confirm resumption of rebound from 106.78. Otherwise, risk will remain on the downside in case of recovery.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.91; (P) 108.14; (R1) 108.47; More…

USD/JPY is staying in range of 107.79/108.99 and intraday bias remains neutral first. On the downside, below 107.79 will resume the fall from 108.99 to retest 106.78 low first. Break will resume larger decline from 112.40. On the upside, break of 108.99 will resume the rebound from 106.78 to 110.67 resistance next.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 107.91; (P) 108.14; (R1) 108.47; More…

Intraday bias in USD/JPY remains neutral for the moment. On the downside, below 107.79 will resume the fall from 108.99 to retest 106.78 low first. Break will resume larger decline from 112.40. on the upside, break of 108.99 will resume the rebound from 106.78 to 110.67 resistance next.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.77; (P) 107.94; (R1) 108.08; More…

Intraday bias in USD/JPY is turned neutral with today’s recovery. On the downside, below 107.79 will resume the fall from 108.99 to retest 106.78 low first. Break will resume larger decline from 112.40. on the upside, break of 108.99 will resume the rebound from 106.78 to 110.67 resistance next.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 107.77; (P) 107.94; (R1) 108.08; More…

USD/JPY is losing some downside momentum as seen in 4 hour MACD. But outlook remains unchanged for now. Corrective rebound from 107.54 should have completed at 108.99, after rejection by 55 day EMA. Further fall should be seen and break of 107.53 support will likely send USD/JPY through 106.78 to resume the decline from 112.40. This is will remain the preferred case as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.60; (P) 108.11; (R1) 108.40; More…

Intraday bias in USD/JPY remains mildly on the downside at this point. Corrective rebound from 107.54 should have completed at 108.99, after rejection by 55 day EMA. Further fall should be seen and break of 107.53 support will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 107.60; (P) 108.11; (R1) 108.40; More…

As noted before, corrective rebound from 107.54 should have completed at 108.99, after rejection by 55 day EMA. Further fall should be seen and break of 107.53 support will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Weekly Outlook

USD/JPY edged higher to 108.99 last week but was rejected by 55 day EMA and reversed. Corrective rebound from 107.54 should have completed. Initial bias stays on the downside this week for 107.53 first. Break of 107.53 will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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 move 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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.06; (P) 108.29; (R1) 108.73; More…

No change in USD/JPY’s outlook. Corrective rebound from 106.78 should have completed at 108.99, after rejection by 55 day EMA. Break of 107.53 will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 108.06; (P) 108.29; (R1) 108.73; More…

Outlook in USD/JPY remains unchanged. Corrective rebound from 106.78 should have completed at 108.99, after rejection by 55 day EMA. Break of 107.53 will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.22; (P) 108.60; (R1) 108.86; More…

At this point, intraday bias in USD/JPY remains mildly on the downside for 107.53 support. Rebound from 106.78 could have completed at 108.99, after rejection by 55 day EMA. Break of 107.53 will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 108.22; (P) 108.60; (R1) 108.86; More…

USD/JPY’s sharp fall suggests that rebound from 106.78 has completed at 108.99 after failing to sustain above 108.80 resistance. The corrective three wave structure and rejection by 55 day EMA indicates that near term bearishness remains. Intraday bias is turned back to the downside for 107.53 support first. Break will likely send USD/JPY through 106.78 to resume the decline from 112.40. For now, near term outlook will remain bearish as long as 108.99 resistance holds.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Br eak of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.66; (P) 108.81; (R1) 109.01; More…

USD/JPY drops sharply in early US session but stays above 108.28 minor support. Intraday bias is turned neutral first. On the downside, break of 108.28 will indicate completion of rebound from 106.78. Intraday bias will be turned to the downside for 107.53 support and then retesting 106.78 low. On the upside, break of 108.99 and sustained trading above 108.80 will confirm short term bottoming at 106.78. Further rise should then been seen to 110.67 resistance next.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 108.66; (P) 108.81; (R1) 109.01; More…

Intraday bias in USD/JPY remains mildly up the upside. Sustained trading above 108.80 resistance will confirm short term bottoming at 106.78. Further rise should then been seen to 110.67 resistance next. However, on the downside, break of 108.28 minor support will turn bias back to the downside for 107.53 support and then 106.78 low.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

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