Daily Pivots: (S1) 108.44; (P) 108.75; (R1) 109.00; More..

Intraday bias in USD/JPY remains neutral for the moment as it’s staying inside range of 108.24/109.48. On the upside, break of 109.48 resistance will resume whole rise from 104.45 and target trend line resistance (now at 111.79). On the downside, break of 108.24 support will revive the case of short term reversal. Intraday bias will be turned back to the downside for 107.88 support to confirm.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.49; (P) 108.67; (R1) 108.97; More..

USD/JPY struggles to sustain above 4 hour 55 EMA so far and weakens mildly. But it’s staying inside range of 108.24/109.48 and intraday bias remains neutral so far. On the upside, break of 109.48 resistance will resume whole rise from 104.45 and target trend line resistance (now at 111.87). On the downside, break of 108.24 support will revive the case of short term reversal. Intraday bias will be turned back to the downside for 107.88 support to confirm.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.49; (P) 108.67; (R1) 108.97; More..

Intraday bias in USD/JPY remains neural for the moment. On the upside, break of 109.48 resistance will resume whole rise from 104.45 and target trend line resistance (now at 111.87). On the downside, break of 108.24 support will revive the case of short term reversal. Intraday bias will be turned back to the downside for 107.88 support to confirm.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

USD/JPY dropped to 108.24 last week but recovered since then. Initial bias is neutral this week first. Rise from 104.45 could have completed at 109.48, on bearish divergence condition in 4 hour and daily MACD, after failing to sustain above 109.31 structural resistance. On the downside, break of 107.88 support will affirm this bearish case and target 106.48 support next. For now, risk will stay on the downside as long as 109.48 holds.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

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) 108.15; (P) 108.51; (R1) 108.77; More..

With 4 hour MACD crossed above signal line, intraday bias in USD/JPY is turned neutral first. We’re favoring the case that rebound from 104.45 has completed at 109.48, after failing to sustain above 109.31 structural resistance. On the downside, break of 107.88 will affirm this bearish case and target 106.48 next. On the upside, firm break of 109.48 is now needed to confirm rally resumption. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.15; (P) 108.51; (R1) 108.77; More..

Intraday bias in USD/JPY remains on the downside at this point. Rebound from 104.45 could have completed after failing to sustain above 109.31 structural resistance. Break of 107.88 will affirm this bearish case and target 106.48 next. On the upside, firm break of 109.48 is now needed to confirm rally resumption. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.60; (P) 108.87; (R1) 109.09; More..

USD/JPY’s break of 108.64 minor support suggests short term topping at 109.48, on bearish divergence condition in 4 hour MACD. Also, it’s the first sign that whole rebound from 104.45 has completed after failing to sustain above 109.31 structure resistance. Intraday bias is back on the downside for 107.88 support first. Break there will affirm this bearish case and target 106.48 next. On the upside, firm break of 109.48 is now needed to confirm rally resumption. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.60; (P) 108.87; (R1) 109.09; More..

Intraday bias in USD/JPY remains neutral with focus on 108.64 minor support. Firm break there will suggest short term topping at 109.48. Rebound from 104.45 could have completed on bearish divergence condition in 4 hour and daily MACD, after failing to sustain above 109.31 key resistance. Intraday bias will be turned back to the downside for 107.88 support. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.87; (P) 109.08; (R1) 109.24; More..

Intraday bias in USD/JPY remains neutral first, and with 108.64 minor support intact, further rise is in favor. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, break of 108.64 will suggest short term topping at 109.48. Rebound from 104.45 could have completed on bearish divergence condition in 4 hour and daily MACD, after failing to sustain above 109.31 key resistance. Intraday bias will be turned back to the downside for 107.88 support.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.87; (P) 109.08; (R1) 109.24; More…

Intraday bias in USD/JPY remains neutral for consolidation below 109.48 temporary top. Further rally is expected as long as 108.64 support holds. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, break of 108.64 will turn focus back to 107.88 support.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.88; (P) 109.07; (R1) 109.23; More…

USD/JPY is staying in consolidation from 109.48 temporary top. Intraday bias remains neutral first. Further rally is expected as long as 108.64 support holds. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, break of 108.64 will turn focus back to 107.88 support.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.88; (P) 109.07; (R1) 109.23; More…

Intraday bias in USD/JPY remains neutral as consolidation from 109.48 temporary top is extending. Further rally is expected as long as 108.64 support holds. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, break of 108.64 will turn focus back to 107.88 support.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 109.05; (P) 109.27; (R1) 109.45; More…

A temporary top is in place at 109.48 in USD/JPY with retreat today. Intraday bias is turned neutral first. Further rally is expected as long as 108.64 support holds. On the upside, break of 109.48 will resume the rise from 104.45 to 100% projection of 104.45 to 108.47 from 106.48 at 110.50. However, break of 108.64 will turn focus back to 107.88 support.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

USD/JPY’s break of 109.28 resistance last week indicates resumption of whole rise from 104.45. Initial bias remains on the upside this week. Sustained trading above 109.31 structural resistance will add to the case of medium term reversal. Next near term target is 100% projection of 104.45 to 108.47 from 106.48 at 110.50. On the downside, below 108.64 minor support will turn intraday bias neutral first. But near term outlook will stay cautiously bullish as long as 107.88 support holds.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

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) 108.79; (P) 109.14; (R1) 109.63; More…

With 108.64 minor support intact, intraday bias in USD/JPY remains on the upside. Sustained trading above 109.31 structural resistance will add to the case of medium term reversal. Next near term target is 100% projection of 104.45 to 108.47 from 106.48 at 110.50 next. On the downside, below 108.64 minor support will turn intraday bias neutral first. But near term outlook will stay bullish as long as 107.88 support holds.

In the bigger picture, strong support was seen from 104.62 again. Break of 109.31 should confirm completion of fall fro m112.40 and bring retest of this key resistance. Decisive break there should confirm completion of whole corrective decline from 118.65 (Dec 2016 high). However, rejection from 112.40 will keep medium term outlook bearish for at least another test on 104.45.

Daily Pivots: (S1) 108.80; (P) 109.00; (R1) 109.17; More…

USD/JPY recovers after drawing support from 4 hour 55 EMA, but stays below 109.28/31 resistance. Intraday bias remains neutral first. On the upside, decisive break of 109.28/31 resistance will firstly resume rise from 104.45 low. It will also be an early sign of medium term reversal. Intraday bias will be turned back to the upside for 112.40 key resistance next. On the downside, break of 107.88 will turn bias to the downside for 106.48 support next.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.80; (P) 109.00; (R1) 109.17; More…

Intraday bias in USD/JPY remains neutral first. On the upside, decisive break of 109.28/31 resistance will firstly resume rise from 104.45 low. It will also be an early sign of medium term reversal. Intraday bias will be turned back to the upside for 112.40 key resistance next. On the downside, break of 107.88 will turn bias to the downside for 106.48 support next.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.74; (P) 108.99; (R1) 109.42; More…

Intraday bias in USD/JPY remains neutral with focus on 109.28/31 resistance. Decisive break there will firstly resume rise from 104.45 low. It will also be an early sign of medium term reversal. Intraday bias will be turned back to the upside for 112.40 key resistance next. On the downside, break of 107.88 will turn bias to the downside for 106.48 support next.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.74; (P) 108.99; (R1) 109.42; More…

Intraday bias in USD/JPY remains neutral first, with focus on 109.28/31 resistance. Decisive break there will firstly resume rise from 104.45 low. It will also be an early sign of medium term reversal. Intraday bias will be turned back to the upside for 112.40 key resistance next. On the downside, break of 107.88 will turn bias to the downside for 106.48 support next.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.

Daily Pivots: (S1) 108.29; (P) 108.47; (R1) 108.76; More…

USD/JPY is still staying in range below 109.28 and intraday bias remains neutral. We’re still favoring the case of short term topping at 109.28, and expect another fall. On the downside, break of 107.88 will target 106.48 support. Break will confirm completion of whole rebound from 104.45 and target retest of this low. However, decisive break of 109.31 will be an early sign of medium term reversal and target 112.40 resistance next.

In the bigger picture, strong support was seen from 104.62 again. Yet, there is no confirmation of medium term reversal. Corrective decline from 118.65 (Dec. 2016) could still extend lower. But in that case, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. Meanwhile, on the upside, break of 112.40 key resistance will be a strong sign of start of medium term up trend.