Daily Pivots: (S1) 154.71; (P) 155.43; (R1) 156.21; More…

Intraday bias in USD/JPY remains mildly on the downside with focus on near term rising channel support (now at 154.44). Strong support could be seen there to bring rebound. Above 156.57 minor resistance will bring retest of 157.88. Further break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, sustained break of the channel support will bring deeper correction to 55 D EMA (now at 152.86), and raise the chance of near term trend reversal.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.91; (P) 156.25; (R1) 156.52; More…

USD/JPY’s fall from 157.88 extends lower today and focus is now on near term rising channel support (now at 154.21). Strong support could be seen there to bring rebound. Above 156.57 minor resistance will bring retest of 157.88. Further break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, sustained break of the channel support will bring deeper correction to 55 D EMA (now at 152.86), and raise the chance of near term trend reversal.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 1.1568; (P) 1.1587; (R1) 1.1619; More…

Range trading continues in EUR/USD and intraday bias stays neutral. With 1.1655 resistance intact, further decline is still expected. On the downside, below 1.1490 and 1.1467 will resume the whole decline from 1.1917 high. Next targets are 1.1390, and then 38.2% retracement of 1.0176 to 1.1917 at 1.1252. However, decisive break of 1.1655 will argue that fall from 1.1917 has completed, and turn bias back to the upside for 1.1727 resistance and above.

In the bigger picture, considering bearish divergence condition in D MACD, a medium term top is likely in place at 1.1917, just ahead of 1.2 key psychological level. As long as 55 W EMA (now at 1.1345) holds, the up trend from 0.9534 (2022 low) is still in favor to continue. Decisive break of 1.2000 will carry larger bullish implications. However, sustained trading below 55 W EMA will argue that rise from 0.9534 has completed as a three wave corrective bounce, and keep long term outlook bearish.

Daily Pivots: (S1) 155.91; (P) 156.25; (R1) 156.52; More…

USD/JPY dips low today as corrective pullback from 157.88 extends. While further fall cannot be ruled out, downside should be contained by near term channel support (now at 154.12) to bring rebound. Above 156.71 minor resistance will turn bias back to the upside. Further break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, firm break of the channel support will bring deeper correction to 55 D EMA (now at 152.86).

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.85; (P) 156.17; (R1) 156.63; More…

No change in USD/JPY’s outlook as consolidations continue below 157.88. Intraday bias stays neutral at this point. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, firm break of 154.47 will bring deeper correction to 55 D EMA (now at 152.63).

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.85; (P) 156.17; (R1) 156.63; More…

USD/JPY is still bounded in consolidations below 157.88 and intraday bias remains neutral. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high. However, firm break of 154.47 will bring deeper correction to 55 D EMA (now at 152.63).

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.82; (P) 156.28; (R1) 156.91; More…

Intraday bias in USD/JPY stays neutral at this point, as consolidation is still in progress. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.82; (P) 156.28; (R1) 156.91; More…

Intraday bias in USD/JPY remains neutral and more consolidations could be seen below 157.88. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.59; (P) 156.29; (R1) 156.77; More…

USD/JPY recovers mildly after hitting 55 4H EMA, but stays well below 157.88 resistance. Intraday bias remains neutral and more consolidations could be seen. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.59; (P) 156.29; (R1) 156.77; More…

Intraday bias in USD/JPY stays neutral and more consolidations could be seen below 157.88. Downside should be contained by 154.47 resistance turned support. On the upside, break of 157.88 will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then 161.94 high.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 156.46; (P) 156.82; (R1) 157.30; More…

USD/JPY’s pullback from 157.88 extends lower today but stays well above 154.47 resistance turned support. Intraday bias remains neutral and further rally is expected. On the upside, break of 157.88 will resume the whole rally from 139.87, and target 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 156.46; (P) 156.82; (R1) 157.30; More…

USD/JPY’s consolidations continue below 157.88 and intraday bias remains neutral. Downside of retreat should be contained by 154.47 resistance turned support to bring rebound. On the upside, break of 157.88 will resume the whole rally from 139.87, and target 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.90; (P) 156.72; (R1) 157.24; More…

Intraday bias in USD/JPY remains neutral and more consolidations could be seen below 157.88. Downside of retreat should be contained by 154.47 resistance turned support to bring rebound. On the upside, break of 157.88 will target 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

Daily Pivots: (S1) 155.90; (P) 156.72; (R1) 157.24; More…

USD/JPY is staying in consolidations below 157.88 and intraday bias remains neutral. Downside of retreat should be contained by 154.47 resistance turned support to bring rebound. On the upside, break of 157.88 will target 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

USD/JPY’s rise from 139.87 contained last week and hit as high as 157.88 before retreating. Initial bias remains neutral this week first for consolidations. Downside should be contained by 154.47 resistance turned support to bring rebound. On the upside, break of 157.88 will target 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 resistance turned support will dampen this bullish view and extend the corrective range pattern with another falling leg.

In the long term picture, up trend from 75.56 (2011 low) is still in progress and might be ready to resumption. Firm break of 161.94 will target 61.8% projection of 102.58 (2020 low) to 161.94 (2024 high) from 139.87 at 176.55 in the medium term.

Daily Pivots: (S1) 156.93; (P) 157.41; (R1) 157.94; More…

Intraday bias in USD/JPY remains neutral and some consolidations could be seen. Downside of retreat should be contained above 154.47 resistance turned support to bring another rally. Above 157.88 temporary top will resume larger rise to 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 restiveness turned support will dampen this bullish view and extend the corrective pattern with another falling leg.

Daily Pivots: (S1) 156.93; (P) 157.41; (R1) 157.94; More…

Intraday bias in USD/JPY is turned neutral with current retreat and some consolidations would be seen. Downside should be contained above 154.47 resistance turned support to bring another rally. Above 157.88 temporary top will resume larger rise to 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 restiveness turned support will dampen this bullish view and extend the corrective pattern with another falling leg.

Daily Pivots: (S1) 155.85; (P) 156.52; (R1) 157.82; More…

Intraday bias in USD/JPY remains on the upside for 158.85 key structural resistance, and then 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17. On the downside, below 156.45 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 restiveness turned support will dampen this bullish view and extend the corrective pattern with another falling leg.

Daily Pivots: (S1) 155.85; (P) 156.52; (R1) 157.82; More…

USD/JPY accelerates higher today and intraday bias stays on the upside for 158.85 key structural resistance, and then 161.8% projection of 146.58 to 153.26 from 149.37 at 160.17. On the downside, below 155.72 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 150.90 restiveness turned support will dampen this bullish view and extend the corrective pattern with another falling leg.

Daily Pivots: (S1) 154.98; (P) 155.36; (R1) 155.89; More…

USD/JPY’s rally continues today and breaks above 100% projection of 146.58 to 153.26 from 149.37 at 156.05. There is no sign of topping yet and the break of medium term rising channel indicates upside acceleration. Intraday bias stays on the upside. Next target is 158.85 key structural resistance, and then 161.8% projection at 160.17. On the downside, below 155.20 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. On the downside, break of 150.90 restiveness turned support will dampen this bullish view and extend the corrective pattern with another falling leg.