Tue, Aug 04, 2020 @ 11:08 GMT

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.54; (P) 106.00; (R1) 106.43; More...

Intraday bias in USD/JPY stays on the upside as rebound from 104.18 is in progress. Sustained trading above 106.07 support turned resistance should confirm short term bottoming at 104.18. More importantly, whole corrective decline from 111.71 has completed with three waves down to 104.18, just missed 100% projection of 111.71 to 105.98 from 109.85 at 104.12. In the case, further rise should be seen to 108.16 resistance next. However, break of 105.20 minor support will turn focus back to 104.18 low instead.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 104.73; (P) 105.40; (R1) 106.60; More...

Intraday bias in USD/JPY remains on the upside at this point. Sustained trading above 106.07 support turned resistance should confirm short term bottoming at 104.18. More importantly, whole corrective decline from 111.71 has completed with three waves down to 104.18, just missed 100% projection of 111.71 to 105.98 from 109.85 at 104.12. In the case, further rise should be seen to 108.16 resistance next.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 104.73; (P) 105.40; (R1) 106.60; More...

Focus stays on 106.07 support turned resistance in USD/JPY. Sustained break there will suggest near term reversal. That is, whole decline from 111.71 has completed with three waves down to 104.18, just missed 100% projection of 111.71 to 105.98 from 109.85 at 104.12. In this case, stronger rise would be seen to 108.16 resistance next.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Weekly Outlook

USD/JPY dropped further to 104.18 last week but rebounded strongly just ahead of 100% projection of 111.71 to 105.98 from 109.85 at 104.12. Immediate focus is now on 106.07 support turned resistance this week. Sustained break there will suggest near term reversal and bring stronger rise to 108.16 resistance and above. Nevertheless, break of 104.18 will extend the whole decline from 111.71 instead.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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) 104.52; (P) 104.90; (R1) 105.13; More...

USD/JPY’s strong rebound and break of 105.29 resistance suggests short term bottoming at 104.18. That came just ahead of 100% projection of 111.71 to 105.98 from 109.85 at 104.12. Intraday bias is turn back to the upside for stronger recovery. Focus is back on 106.07 support turned resistance. As long as 106.07 holds, larger decline from 111.71 is still in favor to extend lower. However, sustained break of 106.07 will indicate near term bullish reversal and target 108.18 resistance next.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 104.52; (P) 104.90; (R1) 105.13; More...

USD/JPY’s decline resumes after brief consolidation and hits as low as 104.18. Intraday bias is back on the downside with focus on 100% projection of 111.71 to 105.98 from 109.85 at 104.12. Firm break there will extend recent fall to 138.2% projection at 101.93 next. On the upside, though, above 105.29 minor resistance will suggest short term bottoming and bring stronger rebound.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 104.73; (P) 104.98; (R1) 105.20; More...

Intraday bias in USD/JPY stays neutral for the moment. Some consolidations could be seen above 104.77 temporary low. But upside of recovery should be limited below 106.63 support turned resistance to bring another fall. on the downside, break of 104.77 will extend larger decline to 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 104.73; (P) 104.98; (R1) 105.20; More...

A temporary low is in place at 104.77 in USD/JPY and intraday bias is turned neutral first. Some consolidations could be seen. But upside of recovery should be limited below 106.63 support turned resistance to bring another fall. on the downside, break of 104.77 will extend larger decline to 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 104.80; (P) 105.25; (R1) 105.53; More...

Further fall is expected in USD/JPY with 105.68 minor resistance intact, despite loss of downside momentum as seen in 4 hour MACD. Current fall is part of the decline from 111.71 and should target 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next. On the upside, above 105.68 minor resistance will turn intraday bias neutral again and bring consolidation. But recovery should be limited below 106.63 support turned resistance to bring another decline.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 104.80; (P) 105.25; (R1) 105.53; More...

Intraday bias in USD/JPY remains on the downside for the moment. Current fall is part of the decline from 111.71 and should target 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next. On the upside, above 105.68 minor resistance will turn intraday bias neutral again and bring consolidation. But recovery should be limited below 106.63 support turned resitsance to bring another decline.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 104.96; (P) 105.54; (R1) 105.95; More...

USD/JPY’s decline resumes after brief recovery and intraday bias is back on the downside. Current fall is part of the decline from 111.71 and should target 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next. On the upside, above 105.68 minor resistance will turn intraday bias neutral again and bring consolidation. But overall, near term outlook will stay bearish as long as 106.63 support turned resistance, in case of recovery.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 104.96; (P) 105.54; (R1) 105.95; More...

A temporary low is formed at 105.11 with breach of 105.66 minor resistance. Intraday bias is turned neutral for some consolidations first. But recovery should be limited by 106.63 support turned resistance to bring another fall. On the downside, break of 105.11 will extend the fall from 111.71 to 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.58; (P) 106.24; (R1) 106.80; More...

Intraday bias in USD/JPY remains on the downside at this point. Break of 61.8% retracement of 101.18 to 111.71 at 105.20 will target 100% projection of 111.71 to 105.98 from 109.85 at 104.12 next. On the upside, above 105.66 minor resistance will turn intraday bias neutral first. But recovery should be limited by 106.63 support turned resistance to bring another fall.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 105.58; (P) 106.24; (R1) 106.80; More...

USD/JPY’s decline continues today and hits as low as 105.44 so far. Intraday bias remains on the downside for 61.8% retracement of 101.18 to 111.71 at 105.20. Break there will target 100% projection of 111.71 to 105.98 from 109.85 at 104.12. On the upside, above 106.13 minor resistance will turn intraday bias neutral first. But recovery should be limited by 106.63 support turned resistance to bring another fall.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Weekly Outlook

USD/JPY’s strong break of 105.98 support confirms resumption of whole fall from 111.71. Initial bias stays on the downside this week for 61.8% retracement of 101.18 to 111.71 at 105.20. On the upside, break of 107.54 resistance is needed to indicate completion of the decline. Otherwise, outlook will remain cautiously bearish in case of recovery.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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) 106.64; (P) 106.94; (R1) 107.16; More...

Intraday bias in USD/JPY remains on the downside for 106.07 support. Firm break there will extend the corrective pattern from 111.71 to 61.8% retracement of 101.18 to 111.71 at 105.20. On the upside, break of 107.54 resistance is needed to indicate completion of the decline. Otherwise, outlook will remain cautiously bearish in case of recovery.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 106.64; (P) 106.94; (R1) 107.16; More...

USD/JPY drops to as low as 106.36 so far and break of 106.63 suggests resumption of fall from 108.16. Intraday bias is back on the downside for 106.07 support. Break there will extend the corrective pattern from 111.71 to 61.8% retracement of 101.18 to 111.71 at 105.20. On the upside, break of 107.54 resistance is needed to indicate completion of the decline. Otherwise, outlook will remain cautiously bearish in case of recovery.

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. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 106.82; (P) 107.05; (R1) 107.40; More...

Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 107.54 will turn bias to the upside for 108.16. Break there will resume whole rebound from 106.07 to 109.85 resistance. On the downside, however, break of 106.63 will turn bias to the downside for 106.07 support instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 106.82; (P) 107.05; (R1) 107.40; More...

Intraday bias in USD/JPY remains neutral as range trading continues. On the upside, break of 107.54 will turn bias to the upside for 108.16. Break there will resume whole rebound from 106.07 to 109.85 resistance. On the downside, however, break of 106.63 will turn bias to the downside for 106.07 support instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 106.54; (P) 106.96; (R1) 107.22; More...

USD/JPY rebounds strongly ahead of 106.63 support but stays below 107.54 minor resistance. Intraday bias remains neutral first. On the upside, break of 107.54 will turn bias to the upside for 108.16. Break there will resume whole rebound from 106.07 to 109.85 resistance. On the downside, however, break of 106.63 will turn bias to the downside for 106.07 support instead.

In the bigger picture, USD/JPY is still staying in long term falling channel that started back in 118.65 (Dec2016). Hence, there is no clear indication of trend reversal yet. The down trend could still extend through 101.18 low. However, sustained break of 112.22 should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

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