Tue, Oct 20, 2020 @ 17:13 GMT

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.32; (P) 105.41; (R1) 105.52; More...

USD/JPY recovers today but stays below 106.10 resistance. Intraday bias remains neutral at this point. Another rise is still in favor with 104.94 support intact. On the upside, break of 106.10 will resume the rebound from 104.00 for 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.32; (P) 105.41; (R1) 105.52; More...

USD/JPY is still bounded in range of 104.94/106.10 and intraday bias remains neutral for the moment. Another rise is still in favor with 104.94 support intact. On the upside, break of 106.10 will resume the rebound from 104.00 for 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.25; (P) 105.35; (R1) 105.52; More...

No change in USD/JPY’s outlook and intraday bias remains neutral first. Another rise is still in favor with 104.94 support intact. On the upside, break of 106.10 will resume the rebound from 104.00 for 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.25; (P) 105.35; (R1) 105.52; More...

Intraday bias in USD/JPY remains neutral for more consolidations. Another rise is still in favor with 104.94 support intact. On the upside, break of 106.10 will resume the rebound from 104.00 for 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Weekly Outlook

USD/JPY’s retreat from 106.10 extended lower last week but it stayed above 104.94 support. Initial bias remains neutral first and another rise is still in favor. On the upside, break of 106.10 will resume the rebound from 104.00 for 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance 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.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.18; (P) 105.33; (R1) 105.58; More...

USD/JPY is still bounded in range of 104.94/106.10 and intraday bias remains neutral. Further rise is in favor with 104.94 support intact. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.18; (P) 105.33; (R1) 105.58; More...

Range trading continues in USD/JPY and intraday bias remains neutral at this point. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 104.95; (P) 105.24; (R1) 105.43; More...

USD/JPY is still staying in range of 104.94/106.10 and intraday bias remains neutral first. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 104.95; (P) 105.24; (R1) 105.43; More...

Intraday bias in USD/JPY remains neutral for the moment. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.30; (P) 105.46; (R1) 105.65; More...

USD/JPY’s pull back form 106.10 extends lower today but stays above 104.94 support. Intraday bias remains neutral first and another rise is in favor. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.30; (P) 105.46; (R1) 105.65; More...

Intraday bias in USD/JPY remains neutral for the moment. With 104.94 support intact, further rise remains in favor. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.12; (P) 105.46; (R1) 105.68; More...

Intraday bias in USD/JPY remains neutral at this point. Further rise is mildly in favor with 104.94 support intact. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.12; (P) 105.46; (R1) 105.68; More...

Intraday bias in USD/JPY stays neutral first and some more consolidation could be seen below 106.10 temporary top. Still, further rise is mildly in favor with 104.94 support intact. On the upside, break of 106.10 will target 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.46; (P) 105.75; (R1) 105.92; More...

Intraday bias in USD/JPY remains neutral at this point. As long as 104.94 resistance holds, further rise is still mildly in favor. On the upside, break of 106.10 will 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Weekly Outlook

USD/JPY’s rebound from 104.00 extended to 106.10 last week but retreated since then. Initial bias remains neutral this week first. On the upside, break of 106.10 will 106.94 resistance. Sustained break there should confirm completion of the whole decline from 111.71. On the downside, break of 104.94 support will revive near term bearishness and target a test on 104.00 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 resistance 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.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.94; (P) 106.03; (R1) 106.12; More...

Intraday bias in USD/JPY remains neutral for some consolidations below 106.11 temporary top. Further rise is expected with 104.94 support intact. Current development argues that down trend from 111.71 has completed on bullish convergence condition in daily MACD. Above 106.11 will target 106.94 resistance for confirmation. However, on the downside, break of 104.94 will dampen this bullish view and bring retest of this 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.94; (P) 106.03; (R1) 106.12; More...

Intraday bias in USD/JPY is turned neutral again with 4 hour MACD crossed below signal line. Further rise is in favor as long as 104.94 support holds. Current development argues that down trend from 111.71 has completed on bullish convergence condition in daily MACD. Above 106.11 will target 106.94 resistance for confirmation. However, on the downside, break of 104.94 will dampen this bullish view and bring retest of this 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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.68; (P) 105.90; (R1) 106.19; More...

USD/JPY’s rebound from 104.00 is still in progress. Intraday bias stays on the upside for 106.94 resistance. Current development argues that down trend from 111.71 has completed on bullish convergence condition in daily MACD. On the upside, break of 106.94 resistance will confirm and turn outlook bullish. On downside, break of 104.94 support is needed to indicate completion of the rebound. Otherwise, further rise will remain mildly in favor in case of retreat.

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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Daily Outlook

Daily Pivots: (S1) 105.68; (P) 105.90; (R1) 106.19; More...

Intraday bias in USD/JPY stays on the upside for the moment. Further rise should be seen to 106.94 resistance. Current development argues that down trend from 111.71 has completed on bullish convergence condition in daily MACD. On the upside, break of 106.94 resistance will confirm and turn outlook bullish. On downside, break of 104.94 support is needed to indicate completion of the rebound. Otherwise, further rise will remain mildly in favor in case of retreat.

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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 105.48; (P) 105.63; (R1) 105.80; More...

Intraday bias in USD/JPY remains on the upside at this point, for 106.94 resistance. Current development argues revives the case that down trend from 111.71 has completed on bullish convergence condition in daily MACD. On the upside, break of 106.94 resistance will confirm and turn outlook bullish. On downside, break of 104.94 support is needed to indicate completion of the rebound. Otherwise, further rise will remain mildly in favor in case of retreat.

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 resistance should confirm completion of the down trend and turn outlook bullish for 118.65 and above.

- advertisement -
- advertisement -