Mon, Oct 25, 2021 @ 13:45 GMT

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.21; (P) 113.71; (R1) 113.99; More…

No change in USD/JPY’s outlook as pull back from 114.69 could extend lower. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, firm break of 114.69 will resume the larger up trend to 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.21; (P) 113.71; (R1) 113.99; More…

Intraday bias in USD/JPY is mildly on the downside as pull back from 114.69 is extending. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, firm break of 114.69 will resume the larger up trend to 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Weekly Outlook

USD/JPY edged higher to 114.69 but retreated just ahead of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Initial bias is mildly on the downside this week for pull back. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, firm break of 114.71 will pave the way to 100% projection at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

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) 113.64; (P) 114.03; (R1) 114.41; More…

Intraday bias in USD/JPY remains mildly on the downside, pull back to 4 hour 55 EMA (now at 113.65) and below. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, sustained break of 114.71 will resume larger up trend from 102.58 to 100% projection 102.58 to 111.65 from 109.11 at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.64; (P) 114.03; (R1) 114.41; More…

Intraday bias in USD/JPY is mildly on the downside for pull back to 4 hour 55 EMA (now at 113.65) and below. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, sustained break of 114.71 will resume larger up trend from 102.58 to 100% projection 102.58 to 111.65 from 109.11 at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.05; (P) 114.37; (R1) 114.66; More…

The break of 113.87 minor support suggests short term topping at 114.69, just ahead of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Intraday bias is mildly on the downside for pull back to 4 hour 55 EMA (now at 113.61) and below. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, sustained break of 114.71 will resume larger up trend from 102.58 to 100% projection at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 114.05; (P) 114.37; (R1) 114.66; More…

Intraday bias in USD/JPY is turned neutral first as it retreated just ahead of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. On the downside, break of 113.87 minor support will confirm short term topping, and turn intraday bias to the downside for deeper pull back. But downside should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, sustained break of 114.71 will resume larger up trend from 102.58 to 100% projection at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.05; (P) 114.23; (R1) 114.56; More…

With 113.87 minor support intact, further rise is still expected in USD/JPY. Firm break of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71 will pave the way to 100% projection at 118.18 next. However considering bearish divergence condition in 4 hour MACD, break of 113.87 minor support should indicate short term topping, and turn bias to the downside for deeper pull back, to 4 hour 55 EMA (now at 113.49) and below.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 114.05; (P) 114.23; (R1) 114.56; More…

USD/JPY’s rally continued and hit as high as 114.69 so far. Intraday bias stays on the upside at this point. Firm break of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71 will pave the way to 100% projection at 118.18 next. However considering bearish divergence condition in 4 hour MACD, break of 113.87 minor support should indicate short term topping, and turn bias to the downside for deeper pull back, to 4 hour 55 EMA (now at 113.42) and below.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.08; (P) 114.26; (R1) 114.51; More…

With 113.20 minor support intact, further rise is still in favor in USD/JPY. Firm break of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71 will pave the way to 100% projection at 118.18 next. On the downside, break of 113.20 minor support will turn bias back to the downside for deeper pull back first.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 114.08; (P) 114.26; (R1) 114.51; More…

Further rise is expected in USD/JPY despite loss of upside momentum. Firm break of 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71 will pave the way to 100% projection at 118.18 next. On the downside, break of 113.20 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.80; (P) 114.13; (R1) 114.59; More…

Intraday bias in USD/JPY remains on the upside despite some loss of upside momentum. Further rise would be seen to 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next. On the downside, break of 113.20 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.80; (P) 114.13; (R1) 114.59; More…

Intraday bias in USD/JPY stays on the upside for 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next. On the downside, break of 113.20 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

USD/JPY Weekly Outlook

USD/JPY’s up trend accelerated to as high as 114.45 last week. Initial bias stays on the upside this week for 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next. On the downside, break of 113.20 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 109.11 support hold, even in case of deep pull back.

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) 113.35; (P) 113.54; (R1) 113.86; More…

Intraday bias in USD/JPY remains on the upside. Current up trend should target 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next. On the downside, below 113.20 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 108.71 support hold, even in case of pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.35; (P) 113.54; (R1) 113.86; More…

USD/JPY’s rally resumed after brief consolidations and intraday bias is back on the upside. Current rise should target 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next. On the downside, below 113.20 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 108.71 support hold, even in case of pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.05; (P) 113.43; (R1) 113.62; More…

Intraday bias in USD/JPY remains neutral for consolidation below 113.79 temporary top. Downside of retreat should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, break of 113.79 will extend the larger up trend from 102.58, and target 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 108.71 support hold, even in case of pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.05; (P) 113.43; (R1) 113.62; More…

Intraday bias turned neutral as USD/JPY lost momentum again. Some consolidations could be seen but downside of retreat should be contained above 112.07 resistance turned support to bring rise resumption. On the upside, break of 113.79 will extend the larger up trend from 102.58, and target 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 108.71 support hold, even in case of pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.15; (P) 113.47; (R1) 113.93; More…

Intraday bias in USD/JPY is back on the upside as it’s trying to resume recent rally after brief retreat. The up trend from 102.58 should target 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next. On the downside, break of 112.99 minor support will turn intraday bias neutral and bring consolidations again. But strong support should be seen above 112.07 to bring rise resumption.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 108.71 support hold, even in case of pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.15; (P) 113.47; (R1) 113.93; More…

Intraday bias in USD/JPY is turned neutral first and some consolidations could be seen below 113.77 temporary top. Downside of retreat should be contained above 112.07 resistance turned support to bring rise resumption. Break of 113.77 will resume larger rise from 102.58 to 61.8% projection of 102.58 to 111.65 from 109.11 at 114.71. Firm break there will target 100% projection at 118.18 next.

In the bigger picture, corrective decline from 118.65 (2016 high) should have completed at 101.18 already. Rise from the 102.58 is seen as the third leg of the up trend from 101.18. Next target is 114.54 resistance and then 118.65 high. This will now be the preferred case as long as 108.71 support hold, even in case of pull back.