Daily Pivots: (S1) 107.08; (P) 107.29; (R1) 107.51; More..

Intraday bias in USD/JPY stays neutral at this point. We’re favoring the case that corrective fall from 111.71 has already completed at 105.98. Further rally is expected and break of 107.76 will target 109.38 resistance first. However, break of 105.98 will dampen our bullish view and bring deeper decline.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.88; (P) 107.15; (R1) 107.45; More...

USD/JPY is still bounded in right range below 107.76 temporary top and intraday bias remains neutral. We’re favoring the case that corrective fall from 111.71 has already completed at 105.98. Further rally is expected and break of 107.76 will target 109.38 resistance first. However, break of 105.98 will dampen our bullish view and bring deeper decline.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.88; (P) 107.15; (R1) 107.45; More...

Intraday bias in USD/JPY remains neutral for the moment. We’re favoring the case that corrective fall from 111.71 has already completed at 105.98. Further rally is expected and break of 107.76 will target 109.38 resistance first. However, break of 105.98 will dampen our bullish view and bring deeper decline.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

USD/JPY edged higher to 107.76 last week but turned sideway since then. Initial bias remains neutral this week first. We’re favoring the case that corrective fall from 111.71 has already completed at 105.98. Further rally is expected and break of 107.76 will target 109.38 resistance first. However, break of 105.98 will dampen our bullish view and bring deeper decline.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline 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.

Daily Pivots: (S1) 106.89; (P) 107.13; (R1) 107.48; More...

USD/JPY is extending the retreat from 107.76 temporary top and intraday bias stays neutral first. Outlook is unchanged that corrective fall from 111.71 should have completed with three waves down to 105.98. Further rise is expected as long as 105.98 support holds. On the upside, break of 107.76 will turn bias back to the upside for 109.38 resistance first. However, break of 105.98 will dampen our bullish view and bring deeper decline.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.89; (P) 107.13; (R1) 107.48; More...

Intraday bias in USD/JPY stays neutral and outlook is unchanged. We’re favoring the case that corrective fall from 111.71 has completed with three waves down to 105.98. Further rise is expected as long as 105.98 support holds. On the upside, break of 107.76 will turn bias back to the upside for 109.38 resistance first.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.75; (P) 107.02; (R1) 107.29; More...

Intraday bias in USD/JPY remains neutral at this point. We’re favoring the case that corrective fall from 111.71 has completed with three waves down to 105.98. Further rise is expected as long as 105.98 support holds. On the upside, break of 107.76 will turn bias back to the upside for 109.38 resistance first.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.75; (P) 107.02; (R1) 107.29; More...

Intraday bias in USD/JPY stays neutral for the moment and outlook is unchanged. We’re favoring the case that corrective fall from 111.71 has completed with three waves down to 105.98. Further rise is expected as long as 105.98 support holds. On the upside, break of 107.76 will turn bias back to the upside for 109.38 resistance first.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.95; (P) 107.32; (R1) 107.52; More...

Intraday bias in USD/JPY remains neutral first and outlook is unchanged. We’re favoring the case that corrective fall from 111.71 has completed with three waves down to 105.98. Further rise is expected as long as 105.98 support holds. On the upside, break of 107.76 will turn bias back to the upside for 109.38 resistance first.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.95; (P) 107.32; (R1) 107.52; More...

With 4 hour MACD crossed below signal line, intraday bias in USD/JPY is turned neutral first. We’re favoring the case that corrective fall from 111.71 has completed with three waves down to 105.98. Further rise would be in favor as long as 105.98 support holds. On the upside, break of 107.76 will turn bias back to the upside for 109.38 resistance first.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.85; (P) 107.31; (R1) 108.09; More...

Intraday bias in USD/JPY remains mildly on the upside at this point. Corrective fall from 111.71 could have completed with three waves down to 105.98 already. Further rise would be seen to 109.38 resistance first. Break there will target a retest on 111.71. For now, risk will stay on the upside as long as 105.98 support holds, in case of retreat.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.85; (P) 107.31; (R1) 108.09; More...

USD/JPY’s break of 107.49 resistance suggests that corrective fall from 111.71 has completed already, with three waves down to 105.98. Intraday bias is back on the upside for 109.38 resistance first. Break there will target a retest on 111.71. For now, risk will stay on the upside as long as 105.98 support holds, in case of retreat.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.36; (P) 106.55; (R1) 106.89; More...

Focus remains on 107.49 resistance in USD/JPY. Firm break there will suggest that corrective fall from 111.71 has completed with three waves down to 105.98. Intraday bias will be turned back to the upside for 109.38 resistance. Break there will bring retest of 111.71. On the downside, break of 105.98 will resume the fall from 111.71 instead.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.36; (P) 106.55; (R1) 106.89; More...

USD/JPY’s recovery from 105.98 extends higher today and focus is back on 107.49 resistance. Break there will suggest short term bottoming. Corrective decline from 111.71 might have completed too. Intraday bias will be turned back to the upside for 109.38 resistance first. On the downside, break of 105.98 will extend the fall from 111.71 to 100% projection of 111.71 to 106.91 from 109.38 at 104.58.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

USD/JPY edged lower to 105.98 last week but recovered. Initial bias remains neutral this week first. Fall from 111.71 is still in progress despite weak downside momentum. Break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58. On the upside, break of 107.49 resistance will suggest completion of the fall and turn bias to the upside for 109.38 resistance next.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline 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.

Daily Pivots: (S1) 105.95; (P) 106.31; (R1) 106.62; More...

Intraday bias in USD/JPY stays neutral at this point. With 107.49 resistance intact, further decline is expected. On the downside, break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 105.95; (P) 106.31; (R1) 106.62; More...

Intraday bias in USD/JPY remains neutral for the moment and further decline is expected with 107.29 resistance intact. On the downside, break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 105.84; (P) 106.24; (R1) 106.48; More...

A temporary low is formed at 105.98 in USD/JPY and intraday bias is turned neutral first. Further decline is expected as long as 107.49 resistance holds. Break of 105.98 will target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective or impulsive. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 105.84; (P) 106.24; (R1) 106.48; More...

Intraday bias in USD/JPY stays on the downside. Current fall from 111.71 would target 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. At this point, downside momentum as seen in 4 hour MACD is still unconvincing. The structure of the fall from 111.71 doesn’t warrant that it’s an impulsive move resuming larger down trend. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.

Daily Pivots: (S1) 106.34; (P) 106.62; (R1) 106.82; More...

Intraday bias in USD/JPY remains on the downside as fall from 111.71 is in progress. Next target is 100% projection of 111.71 to 106.91 from 109.38 at 104.58 next. At this point, downside momentum as seen in 4 hour MACD is still unconvincing. The structure of the fall from 111.71 doesn’t warrant that it’s an impulsive move resuming larger down trend. Reactions from 104.58 could finally reveal whether fall from 111.71 is corrective. On the upside, break of 107.49 resistance will indicate short term bottoming and turn bias back to the upside for 109.38 resistance.

In the bigger picture, at this point, whole decline from 118.65 (Dec 2016) continues to display a corrective look, with well channeling. There is no clear sign of completion yet. Break of 101.18 will target 98.97 (2016 low). Meanwhile, sustained break of 112.22 should confirm completion of the decline and turn outlook bullish for 118.65 and above.