Mon, Jun 21, 2021 @ 04:47 GMT

USD/JPY Daily Outlook

Daily Pivots: (S1) 110.47; (P) 110.84; (R1) 111.49; More…

Intraday bias in USD/JPY remains neutral as consolidation from 110.10 temporary low continues. As long as 111.57 resistance holds, deeper decline is in favor. Below 110.10 will extend the current fall from 118.65 to 100% projection of 118.65 to 111.58 from 115.49 at 108.42 and possibly below. Meanwhile, firm break of 111.57 will indicate short term bottoming and bring rebound back to 55 day EMA (now at 112.96).

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. sustained trading below 55 week EMA (now at 111.11) will indicates that such consolidation is not completed. And another fall would be seen back to 98.97 as the third leg. In that case, downside would be contained by 61.8% retracement of 75.56 to 125.95 at 94.77 to complete the correction. On the upside, above 115.49 will extend the rise from 98.97 to retest 125.85 first. Overall, up trend from 75.56 is expected to resume after the consolidation from 125.85 completes.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 110.16; (P) 110.60; (R1) 111.10; More…

USD/JPY consolidates above 110.10 temporary low and intraday bias is neutral for the moment. As long as 111.57 resistance holds, deeper decline is expected in the pair. Below 110.10 will extend the current fall from 118.65 to 100% projection of 118.65 to 111.58 from 115.49 at 108.42 and possibly below. Meanwhile, firm break of 111.57 will indicate short term bottoming and bring rebound back to 55 day EMA (now at 113.09).

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. sustained trading below 55 week EMA (now at 111.11) will indicates that such consolidation is not completed. And another fall would be seen back to 98.97 as the third leg. In that case, downside would be contained by 61.8% retracement of 75.56 to 125.95 at 94.77 to complete the correction. On the upside, above 115.49 will extend the rise from 98.97 to retest 125.85 first. Overall, up trend from 75.56 is expected to resume after the consolidation from 125.85 completes.

USD/JPY Daily Outlook

Daily Pivots: (S1) 110.16; (P) 110.60; (R1) 111.10; More…

With 111.57 minor resistance intact, deeper decline is still expected in USD/JPY. Current fall from 118.65 should target 100% projection of 118.65 to 111.58 from 115.49 at 108.42 and possibly below. On the upside, break of 111.57 resistance is needed to indicate short term bottoming. Otherwise, near term outlook stays mildly bearish in case of recovery.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. sustained trading below 55 week EMA (now at 111.11) will indicates that such consolidation is not completed. And another fall would be seen back to 98.97 as the third leg. In that case, downside would be contained by 61.8% retracement of 75.56 to 125.95 at 94.77 to complete the correction. On the upside, above 115.49 will extend the rise from 98.97 to retest 125.85 first. Overall, up trend from 75.56 is expected to resume after the consolidation from 125.85 completes.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 110.79; (P) 111.14; (R1) 111.65; More…

USD/JPY’s fall continues today and reaches as low as 110.10 so far. Intraday bias remains on the downside and the fall from 118.65 would target 100% projection of 118.65 to 111.58 from 115.49 at 108.42 and possibly below. On the upside, break of 111.57 resistance is needed to indicate short term bottoming. Otherwise, near term outlook stays mildly bearish in case of recovery.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. sustained trading below 55 week EMA (now at 111.11) will indicates that such consolidation is not completed. And another fall would be seen back to 98.97 as the third leg. In that case, downside would be contained by 61.8% retracement of 75.56 to 125.95 at 94.77 to complete the correction. On the upside, above 115.49 will extend the rise from 98.97 to retest 125.85 first. Overall, up trend from 75.56 is expected to resume after the consolidation from 125.85 completes.

USD/JPY Daily Outlook

Daily Pivots: (S1) 110.79; (P) 111.14; (R1) 111.65; More…

USD/JPY’s fall resumed by taking out 110.62 and reaches as low as 110.25 so far. Current development suggests that decline from 118.65 is deeper than originally expected. Intraday bias is turned back to the downside for 100% projection of 118.65 to 111.58 from 115.49 at 108.42 and possibly below. On the upside, above 111.57 minor resistance will turn bias neutral first. But near term outlook will stay mildly bearish as long as 115.49 resistance holds.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. sustained trading below 55 week EMA (now at 111.11) will indicates that such consolidation is not completed. And another fall would be seen back to 98.97 as the third leg. In that case, downside would be contained by 61.8% retracement of 75.56 to 125.95 at 94.77 to complete the correction. On the upside, above 115.49 will extend the rise from 98.97 to retest 125.85 first. Overall, up trend from 75.56 is expected to resume after the consolidation from 125.85 completes.

USD/JPY Weekly Outlook

USD/JPY’s decline from 118.65 resumed last week by taking out 111.58 support last week and reached as low as 110.62. 38.2% retracement of 98.97 to 118.65 at 111.13 was breached but there was no follow through selling yet. But in any case, price actions from 118.65 are still viewed as a correction for the moment.

USD/JPY 4 Hours Chart

Initial bias is neutral in USD/JPY this week first. On the upside, break of 112.86 resistance will argue that a short term bottom is formed. In such case, intraday bias will be turned back to the upside for 115.49 resistance. Break will indicate completion of the correction from 118.65. Meanwhile, break of 110.62 will likely send USD/JPY to 100% projection of 118.65 to 111.58 from 115.49 at 108.42 to extend the correction.

USD/JPY Daily Chart

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.08) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Weekly Chart

In the long term picture, the rise from 75.56 long term bottom to 125.85 medium term top is viewed as an impulsive move. Price actions from 125.85 are seen as a corrective move which could still extend. But, up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.

USD/JPY Monthly Chart

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 110.50; (P) 111.03; (R1) 111.45; More…

Intraday bias in USD/JPY stays neutral as it continues to struggle around 111.12/13 support. At this point, we’re still favoring the case for strong support around 111.12/13 to bring rebound. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. Break of 112.86 resistance will indicates completion of the correction from 118.65. In such case, intraday bias will be turned back to the upside for 115.49 resistance and above. However, sustained trading below 111.12/13 will pave the way to 100% projection at 108.42 next.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.12) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Daily Outlook

Daily Pivots: (S1) 110.50; (P) 111.03; (R1) 111.45; More…

A temporary low is in place at USD/JPY with 4 hour MACD staying above signal line. Intraday bias is turned neutral first. At this point, we’re still favoring the case for strong support around 111.12/13 to bring rebound. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. Break of 112.86 resistance will indicates completion of the correction from 118.65. In such case, intraday bias will be turned back to the upside for 115.49 resistance and above. However, sustained trading below 111.12/13 will pave the way to 100% projection at 108.42 next.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.12) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 110.67; (P) 111.22; (R1) 111.72; More…

USD/JPY’s decline from 115.49 is still in progress for the moment. Sustained trading below 111.12/13 cluster support (61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13) will pave the way to 100% projection at 108.42. Nonetheless, rebound from there current level, and break of 112.86 resistance will indicates completion of the correction from 118.65. In such case, intraday bias will be turned back to the upside for 115.49 resistance and above.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.12) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Daily Outlook

Daily Pivots: (S1) 110.67; (P) 111.22; (R1) 111.72; More…

USD/JPY dipped to as low as 110.27 but quickly recovered. At this point, we’d still expecting strong support around 111.12/13 cluster support to bring rebound. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. Break of 112.86 resistance will turn bias back to the upside for 115.49 resistance first. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 111.21; (P) 112.03; (R1) 112.54; More…

USD/JPY drops to as low as 111.13 so far today and is pressing 111.12/13 cluster support. Such support level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we’d still anticipate strong support around 111.12/13 to contain downside and bring rebound. Break of 112.86 resistance will turn bias back to the upside for 115.49 resistance first. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Daily Outlook

Daily Pivots: (S1) 111.21; (P) 112.03; (R1) 112.54; More…

USD/JPY’s fall from 118.65 resumed by taking out 111.58 and reaches as low as 111.42 so far. Intraday bias stays on the downside for the moment. At this point, we’re still favor to see strong support from 111.12/13 cluster support to contain downside. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. On the upside, break of 112.86 will turn bias back to the upside for 115.49 resistance first. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.37; (P) 112.63; (R1) 112.82; More…

With 113.53 minor resistance intact, deeper decline is expected in USD/JPY for 111.58 low. Consolidation pattern from 111.58 has completed with three waves up to 115.49. And decline from 118.65 is likely resuming. However, we’d tentatively expect strong support from 111.12/13 cluster support to contain downside. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. On the upside, above 113.53 minor resistance will turn bias back to the upside for 115.49 resistance. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Daily Outlook

Daily Pivots: (S1) 112.37; (P) 112.63; (R1) 112.82; More…

USD/JPY lost some downside momentum with 4 hour MACD crossed above signal line. But with 113.53 minor resistance intact, deeper decline is still expected. We’re holding on to the view that consolidation pattern from 111.58 has completed with three waves up to 115.49. And decline from 118.65 is likely resuming. Further fall should be seen through 111.58 to 111.12/13 cluster support. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we’d tentatively expect strong support from 111.12/13 cluster support to contain downside. On the upside, above 113.53 minor resistance will turn bias back to the upside for 115.49 resistance. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.29; (P) 112.89; (R1) 113.22; More…

With 113.53 minor resistance intact, intraday bias in USD/JPY remains on the downside for 111.58 support. As mentioned before, consolidation pattern from 111.58 has completed with three waves up to 115.49. And decline from 118.65 is likely resuming. Further fall should be seen through 111.58 to 111.12/13 cluster support. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we’d tentatively expect strong support from 111.12/13 cluster support to contain downside. On the upside, above 113.53 minor resistance will turn bias to the up for 115.49 resistance. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Daily Outlook

Daily Pivots: (S1) 112.29; (P) 112.89; (R1) 113.22; More…

Intraday bias in USD/JPY remains on the downside for the moment as fall from 115.49 continues. As noted before, consolidation pattern from 111.58 has completed with three waves up to 115.49. And decline from 118.65 is likely resuming. Further fall should be seen through 111.58 to 111.12/13 cluster support. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we’d tentatively expect strong support from 111.12/13 cluster support to contain downside. On the upside, above 113.53 minor resistance will turn bias to the up for 115.49 resistance. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.19) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Weekly Outlook

USD/JPY’s fall from 115.49 accelerated last week and the development invalidated our original bullish view. Instead, it suggests that price action from 111.58 are a consolidation pattern and is completed with three waves to 115.49. And the corrective decline from 118.65 is resuming.

USD/JPY 4 Hours Chart

Initial bias remains on the downside this week for 111.58 and below. At this point, we’d tentatively expect strong support from 111.12/13 cluster support to contain downside. This level represents 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12 and 38.2% retracement of 98.97 to 118.65 at 111.13. On the upside, above 113.53 minor resistance will turn bias to the up for 115.49 resistance. However, sustained break of 111.12/13 will bring deeper decline to 100% projection of 118.65 to 111.58 from 115.49 at 108.42.

USD/JPY Daily Chart

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Nonetheless, sustained trading below 55 week EMA (now at 111.08) will extend the consolidation from 125.85 with another fall through 98.97 before completion.

USD/JPY Weekly Chart

In the long term picture, the rise from 75.56 long term bottom to 125.85 medium term top is viewed as an impulsive move. Price actions from 125.85 are seen as a corrective move which could still extend. But, up trend from 75.56 is expected to resume at a later stage for above 135.20/147.68 resistance zone.

USD/JPY Monthly Chart

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.94; (P) 113.24; (R1) 113.58; More…

Intraday bias in USD/JPY remains on the downside for 111.58 low. Current development argues that consolidation from 111.58 has completed with three waves to 115.49. And larger decline from 118.65 is resuming. Break of 111.58 will target 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12. That coincides with 38.2% retracement of 98.97 to 118.65 at 111.13. We’d tentatively expect strong support from there to bring rebound. But firm break there will target 100% projection at 108.42. On the upside, outlook will stays bearish as long as 115.49 holds, in case of recovery.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Rejection from 125.85 and below will extend the consolidation with another falling leg before up trend resumption.

USD/JPY Daily Outlook

Daily Pivots: (S1) 112.94; (P) 113.24; (R1) 113.58; More…

Intraday bias in USD/JPY remains on the downside for 111.58 low. Current development argues that consolidation from 111.58 has completed with three waves to 115.49. And larger decline from 118.65 is resuming. Break of 111.58 will target 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12. That coincides with 38.2% retracement of 98.97 to 118.65 at 111.13. We’d tentatively expect strong support from there to bring rebound. But firm break there will target 100% projection at 108.42. On the upside, outlook will stays bearish as long as 115.49 holds, in case of recovery.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Rejection from 125.85 and below will extend the consolidation with another falling leg before up trend resumption.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.72; (P) 113.80; (R1) 114.44; More…

Intraday bias in USD/JPY remains on the downside for 111.58 low. Current development argues that consolidation from 111.58 has completed with three waves to 115.49. And larger decline from 118.65 is resuming. Break of 111.58 will target 61.8% projection of 118.65 to 111.58 from 115.49 at 111.12. That coincides with 38.2% retracement of 98.97 to 118.65 at 111.13. We’d tentatively expect strong support from there to bring rebound. But firm break there will target 100% projection at 108.42. On the upside, outlook will stays bearish as long as 115.49 holds, in case of recovery.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Rejection from 125.85 and below will extend the consolidation with another falling leg before up trend resumption.