Sun, May 09, 2021 @ 22:47 GMT

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.52; (P) 107.84; (R1) 108.19; More…

USD/JPY is losing some downside momentum as seen in 4 hour MACD. But further fall is expected as long as 108.53 minor resistance hold. Decline from 110.95 should target 61.8% retracement of 102.58 to 110.95 at 105.77. On the upside, though, break of 108.53 will indicate short term bottoming. Intraday bias will be back to the upside for 108.99/109.95 resistance zone.

In the bigger picture, rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the fall from 110.95 to gauge the chance of upside breakout at a later stage.

USD/JPY Daily Outlook

Daily Pivots: (S1) 107.52; (P) 107.84; (R1) 108.19; More…

Intraday bias in USD/JPY remains mildly on the downside at this point. Decline from 110.95 would continue towards 61.8% retracement of 102.58 to 110.95 at 105.77. On the upside, break of 108.53 minor resistance is needed to indicate short term bottoming. Otherwise, deeper fall will remain in favor in case of recovery.

In the bigger picture, rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the fall from 110.95 to gauge the chance of upside breakout at a later stage.

USD/JPY Weekly Outlook

USD/JPY dropped further to as low as 107.47 last week and there is no clear sign of bottoming yet. Further fall is expected this week for 61.8% retracement of 102.58 to 110.95 at 105.77. On the upside, break of 108.53 minor resistance is needed to indicate short term bottoming. Otherwise, deeper decline will remain in favor in case of recovery.

In the bigger picture, rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the fall from 110.95 to gauge the chance of upside breakout at a later stage.

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 pattern 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.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.87; (P) 108.01; (R1) 108.19; More…

USD/JPY’s decline from 110.95 extends lower today and breaks 38.2% retracement of 102.58 to 110.95 at 107.75. Intraday bias is now on the downside for deeper decline to 61.8% retracement at 105.77. On the upside, break of 108.53 minor resistance is needed to indicate short term bottoming. Otherwise, deeper decline will remain in favor in case of recovery.

In the bigger picture, current development suggests that rise from 102.58 might have completed at 110.95, as the third leg of the pattern from 101.18 low. Medium term outlook is neutral first, as the pair could have turned into sideway trading between 101.18/111.71. We’d look at the structure and momentum of the fall from 110.95 to gauge the chance of upside breakout at a later stage.

USD/JPY Daily Outlook

Daily Pivots: (S1) 107.87; (P) 108.01; (R1) 108.19; More…

No change in USD/JPY’s outlook as focus stays on 38.2% retracement of 102.58 to 110.95 at 107.75. We’d still look for strong support from there to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.96) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.87; (P) 108.07; (R1) 108.27; More…

Focus stays on 38.2% retracement of 102.58 to 110.95 at 107.75. We’d still look for strong support from there to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.96) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Daily Outlook

Daily Pivots: (S1) 107.87; (P) 108.07; (R1) 108.27; More…

Outlook in USD/JPY remains unchanged with focus on 38.2% retracement of 102.58 to 110.95 at 107.75. We’d still look for strong support from there to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.96) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.86; (P) 108.21; (R1) 108.43; More…

Focus stays on 38.2% retracement of 102.58 to 110.95 at 107.75 in USD/JPY. We’d still look for strong support from there to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.96) will dampen the bullish view and keep medium term outlook neutral first.

 

USD/JPY Daily Outlook

Daily Pivots: (S1) 107.86; (P) 108.21; (R1) 108.43; More…

USD/JPY’s decline from 110.95 resumed after brief recovery and focus is back on 38.2% retracement of 102.58 to 110.95 at 107.75. We’d still look for strong support from there to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.96) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 107.82; (P) 108.33; (R1) 108.65; More…

Intraday bias in USD/JPY is turned neutral first with current recovery. We’d still look for strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Daily Outlook

Daily Pivots: (S1) 107.82; (P) 108.33; (R1) 108.65; More…

Intraday bias in USD/JPY stays on the downside at this point and deeper fall could be seen. We’d still look for strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.61; (P) 108.79; (R1) 108.97; More…

USD/JPY’s fall from 110.95 accelerates to as low as 108.00 so far. Intraday bias remains on the downside for the moment. At this point, we’d still expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 108.99 support turned resistance will turn bias back to the upside for retesting 110.95 high. However, sustained break of 107.75 will bring deeper fall to 61.8% retracement at 105.77.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.61; (P) 108.79; (R1) 108.97; More…

Intraday bias in USD/JPY remains mildly on the downside at this point. Corrective decline from 110.95 is in progress. But still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92) will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Weekly Outlook

USD/JPY’s corrective fall from 110.95 continued last week but started to lose downside momentum, as seen in 4 hour MACD. Further decline will remain in favor this week as long as 109.95 resistance holds. But we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92) will dampen the bullish view and keep medium term outlook neutral first.

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 pattern 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.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.59; (P) 108.79; (R1) 108.96; More…

No change in USD/JPY’s outlook as corrective fall from 110.95 could extend lower through 108.40 support. Still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92), will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.59; (P) 108.79; (R1) 108.96; More…

Intraday bias in USD/JPY stays mildly on the downside, as corrective fall from 110.95 could extend lower through 108.40 support. Still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92), will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.75; (P) 108.93; (R1) 109.10; More…

Intraday bias in USD/JPY remains on the downside for the moment. Corrective fall from 110.95 is still in progress for 108.40 support and possibly below. Still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.92), will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.75; (P) 108.93; (R1) 109.10; More…

USD/JPY’s corrective fall from 110.95 is still in progress. Intraday bias stays on the downside for 108.40 support and possibly below. Still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.74), will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.80; (P) 109.28; (R1) 109.53; More…

Intraday bias in USD/JPY remains mildly on the downside at this point. Correction from 110.95 is in progress for 108.40 support and possibly below. Still, we’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.74), will dampen the bullish view and keep medium term outlook neutral first.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.80; (P) 109.28; (R1) 109.53; More…

USD/JPY’s correction from 110.95 resumes by breaking 108.99. Intraday bias is back on the downside for 108.40 and below. We’d expect strong support from 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.95 will bring retest of 110.95 high.

In the bigger picture, current development suggests that the corrective down trend from 118.65 (Dec 2016) has completed at 101.18. Firm break of 112.22 resistance should confirms this bullish case. A medium term up trend could then has started for 100% projection of 101.18 to 111.71 from 102.58 at 113.11 and then 161.8% projection at 119.61. However, rejection by 111.71, followed by sustained trading below 55 day EMA (now at 107.74), will dampen the bullish view and keep medium term outlook neutral first.