Sun, May 09, 2021 @ 23:34 GMT

USD/JPY Daily Outlook

Daily Pivots: (S1) 111.91; (P) 112.94; (R1) 113.80; More…

USD/JPY’s break of 112.51 suggests that choppy decline from 118.65 has resumed. Intraday bias is back on he downside for 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we’re still viewing the fall as a corrective move. Hence, we’d expect strong support from 111.13 to contain downside an bring rebound. On the upside, above 115.36 resistance will argue that such correction is finished and turn bias to the upside for 118.65. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.50; (P) 114.94; (R1) 115.48; More…

Intraday bias in USD/JPY remains neutral as range trading continues. No change in the view that choppy decline from 118.65 is seen as a correction. On the upside, break of 115.61 resistance will suggest that the correction is finished and turn bias to the upside for 118.65. Break will resume whole rise from 98.97 and target 125.85 key resistance. On the downside, below 112.51 will extend such decline but downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 and bring rebound.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 114.50; (P) 114.94; (R1) 115.48; More…

USD/JPY’s recovery was limited well below 115.61 minor resistance and reversed. Nonetheless, it’s staying inside range of 112.51/115.61 and intraday bias remains neutral. The choppy decline from 118.65 is seen as a correction. Break of 115.61 resistance will suggest that the correction is finished and turn bias to the upside for 118.65. Break will resume whole rise from 98.97 and target 125.85 key resistance. On the downside, below 112.51 will extend such decline but downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 and bring rebound.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.50; (P) 114.94; (R1) 115.48; More…

USD/JPY is still bounded in range of 112.51/115.61 and intraday bias remains neutral. The choppy decline from 118.65 is seen as a correction. Break of 115.61 resistance will suggest that the correction is finished and turn bias to the upside for 118.65. Break will resume whole rise from 98.97 and target 125.85 key resistance. On the downside, below 112.51 will extend such decline but downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 and bring rebound.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 114.50; (P) 114.94; (R1) 115.48; More…

Intraday bias in USD/JPY stays neutral at this point. As noted before, price actions from 118.65 are seen as a corrective move. Below 112.51 will extend such decline but downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 and bring rebound. Break of 115.61 resistance will suggest that the correction is finished and turn bias to the upside for 118.65. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Weekly Outlook

USD/JPY edged lower to 112.51 last week but recovered. Initial bias stays neutral this week first. Price actions from 118.65 are seen as a corrective move. In case of another fall, downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 and bring rebound. Break of 115.61 resistance will suggest that the correction is finished and turn bias to the upside for 118.65. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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 4 Hours Chart

USD/JPY Daily Chart

USD/JPY Weekly Chart

USD/JPY Monthly Chart

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.42; (P) 114.13; (R1) 115.23; More…

USD/JPY is still bounded in range of 112.51/115.61 and intraday bias remains neutral. No change in the view that choppy fall from 118.65 is a corrective move. Break of 115.61 will indicate that it’s completed and will turn bias to the upside for retesting 118.65 resistance. Break will resume whole rise from 98.97 and target 125.85 key resistance. Below 112.51 will extend the decline but downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 113.42; (P) 114.13; (R1) 115.23; More…

USD/JPY’s recovery from 112.51 continues but stays below 115.61 resistance. Intraday bias remains neutral at this point. No change in the view that choppy fall from 118.65 is a corrective move. Break of 115.61 will indicate that it’s completed and will turn bias to the upside for retesting 118.65 resistance. Break will resume whole rise from 98.97 and target 125.85 key resistance. Below 112.51 will extend the decline but downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.87; (P) 113.43; (R1) 113.82; More…

USD/JPY recovers mildly today but stays inside range of 112.51/115.61. Intraday bias stays neutral for the moment. Choppy fall from 118.65 is seen as a corrective move. In case of another decline, downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 112.87; (P) 113.43; (R1) 113.82; More…

USD/JPY is staying in tight range above 112.51 and intraday bias remains neutral. Choppy fall from 118.65 is seen as a corrective move. In case of another decline, downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.90; (P) 113.40; (R1) 114.28; More…

Intraday bias in USD/JPY remains neutral for the moment. Choppy fall from 118.65 is seen as a corrective move. In case of another decline, downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 112.90; (P) 113.40; (R1) 114.28; More…

Intraday bias in USD/JPY is turned neutral again with 4 hour MACD crossed above signal line. Outlook is unchanged as choppy fall from 118.65 is seen as a corrective move. In case of another fall, downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 112.13; (P) 113.27; (R1) 113.85; More…

Intraday bias in USD/JPY remains on the downside as correction from 118.65 extends. Downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 112.13; (P) 113.27; (R1) 113.85; More…

Breach of 112.56 suggests that corrective fall from 118.65 is resuming. Intraday bias is turned back to the downside for 38.2% retracement of 98.97 to 118.65 at 111.13. At this point, we’re expect strong support from there to contain downside to complete the correction. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.04; (P) 114.71; (R1) 115.22; More…

Intraday bias in USD/JPY remains neutral for the moment. Below 112.56 will extend the corrective fall from 118.65. In that case, we’d expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 114.04; (P) 114.71; (R1) 115.22; More…

Today’s sharp fall dragged 4 hour MACD below signal line and suggests that recovery from 112.56 is completed at 115.61. Intraday bias is turned neutral first. Below 112.56 will extend the corrective fall from 118.65. In that case, we’d expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

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.

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USD/JPY Weekly Outlook

USD/JPY rebounded after dipping to 112.56 last week. The development argues that pull back from 118.65 could have completed already. Initial bias is cautiously on the upside for 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance. In case of another fall, we’d expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound.

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.

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 4 Hours Chart

USD/JPY Daily Chart

USD/JPY Weekly Chart

USD/JPY Monthly Chart

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.28; (P) 114.95; (R1) 115.50; More…

Prior breach of 115.43 minor resistance suggests that pull back from 118.65 is completed at 112.56 already. Intraday bias stays mildly on the upside for retesting 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance. In case of another fall, we’d expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound.

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.

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USD/JPY Daily Outlook

Daily Pivots: (S1) 114.28; (P) 114.95; (R1) 115.50; More…

Prior breach of 115.43 minor resistance suggests that pull back from 118.65 is completed at 112.56 already. Intraday bias stays mildly on the upside for retesting 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance. In case of another fall, we’d expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound.

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.

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.21; (P) 113.98; (R1) 115.40; More…

Breaching 115.43 minor resistance suggests that pull back from 118.65 is completed at 112.56 already. Intraday bias is turned back to the upside for retesting 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance. In case of another fall, we’d expect strong support from 38.2% retracement of 98.97 to 118.65 at 111.13 to contain downside and bring rebound.

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.

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