Daily Pivots: (S1) 157.03; (P) 158.24; (R1) 159.12; More…

USD/JPY’s fall from 161.94 is seen as correcting the whole five-wave rally from 140.25. Deeper decline is in favor and sustained trading below 55 D EMA (now at 157.67) will affirm this bearish case. Next target will be 38.2% retracement of 140.25 to 161.94 at 163.65. Nevertheless, break of 159.44 will turn bias back to the upside for stronger rebound.

In the bigger picture, as long as 151.89 resistance turned support holds, long term up trend could still continue through 161.94 at a later stage. Next target will depend on the depth of the current correction from 161.94. However, sustained break of 151.89 will argue that larger scale correction or trend reversal is underway.

Daily Pivots: (S1) 157.03; (P) 158.24; (R1) 159.12; More…

Fall from 161.94 is seen as correcting the whole five-wave rally from 140.25. Deeper decline is in favor and sustained trading below 55 D EMA (now at 157.67) will affirm this bearish case. Next target will be 38.2% retracement of 140.25 to 161.94 at 163.65. Nevertheless, break of 159.44 will turn bias back to the upside for stronger rebound.

In the bigger picture, as long as 151.89 resistance turned support holds, long term up trend could still continue through 161.94 at a later stage. Next target will depend on the depth of the current correction from 161.94. However, sustained break of 151.89 will argue that larger scale correction or trend reversal is underway.

USD/JPY’s sharp decline last week confirmed short term topping at 161.94. Considering bearish divergence condition in D MACD, fall from 161.94 is likely corrective whole five-wave rally from 140.25. Risk will stay on the downside as long as 160.25 support turned resistance holds. Sustained break of 55 D EMA (now at 157.67) will affirm this bearish case. Next target will be 38.2% retracement of 140.25 to 161.94 at 163.65.

In the bigger picture, as long as 151.89 resistance turned support holds, long term up trend could still continue through 161.94 at a later stage. Next target will depend on the depth of the current correction from 161.94. However, sustained break of 151.89 will argue that larger scale correction or trend reversal is underway.

In the long term picture, as long as 140.25 support holds, up trend from 75.56 (2011 low) is still in progress. Next target is 138.2% projection of 75.56 (2011 low) to 125.85 (2015 high) from 102.58 at 172.08.

Daily Pivots: (S1) 156.97; (P) 159.37; (R1) 161.30; More…

No change in USD/JPY’s outlook. Deeper decline is expected with 160.25 support turned resistance intact. Fall from 161.94 is seen as corrective the five-wave rally from 140.25. Sustained break of 55 D EMA (now at 157.71) will affirm this bearish case. Next target will be 38.2% retracement of 140.25 to 161.94 at 163.65.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94. However, sustained break of 154.53 will raise the chance of larger scale correction and target 140.25/151.89 support zone.

Daily Pivots: (S1) 156.97; (P) 159.37; (R1) 161.30; More…

USD/JPY recovered after falling sharply to 157.41 but further decline is expected with 160.25 support turned resistance intact. Considering bearish divergence condition in D MACD, fall from 161.49 might already be correcting the whole five-wave rally from 140.25. Sustained break of 55 D EMA (now at 157.71) will affirm this bearish case. Next target will be 38.2% retracement of 140.25 to 161.94 at 163.65.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94. However, sustained break of 154.53 will raise the chance of larger scale correction and target 140.25/151.89 support zone.

Daily Pivots: (S1) 161.38; (P) 161.59; (R1) 161.93; More…

USD/JPY declines sharply in early US session and breaks 160.25 support decisively. Considering bearish divergence condition in D MACD, fall from 161.49 might already be correcting the whole five-wave rally from 140.25. Intraday bias is back on the downside. Sustained break of 55 D EMA (now at 157.62) will affirm this bearish case. Next target will be 38.2% retracement of 140.25 to 161.94 at 163.65. Meanwhile, rise will now stay on the downside as long as 160.25 support turned resistance holds, in case of recovery.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94. However, sustained break of 154.53 will raise the chance of larger scale correction and target 140.25/151.89 support zone.

Daily Pivots: (S1) 161.38; (P) 161.59; (R1) 161.93; More…

Range trading continues in USD/JPY below 161.94 and intraday bias remains neutral. Further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.85; (P) 161.18; (R1) 161.63; More…

USD/JPY is still staying in range below 161.95 and intraday bias remains neutral. Further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.85; (P) 161.18; (R1) 161.63; More…

Intraday bias in USD/JPY remains neutral as range trading continues below 161.94. Further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.28; (P) 160.84; (R1) 161.35; More…

Intraday bias in USD/JPY stays neutral at this point. Further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 temporary top will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.28; (P) 160.84; (R1) 161.35; More…

Intraday bias in USD/JPY remains neutral for the moment, as range trading continues. Further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 temporary top will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.28; (P) 160.84; (R1) 161.35; More…

Range trading continues in USD/JPY and intraday bias stays neutral. Further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 temporary top will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.28; (P) 160.84; (R1) 161.35; More…

Intraday bias in USD/JPY remains neutral first and further rally is expected with 160.25 minor support intact. On the upside, break of 161.94 temporary top will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

USD/JPY edged higher to 161.94 last week but retreated since then. Initial bias stays neutral this week first. On the upside, break of 161.94 temporary top will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

In the long term picture, as long as 140.25 support holds, up trend from 75.56 (2011 low) is still in progress. Next target is 138.2% projection of 75.56 (2011 low) to 125.85 (2015 high) from 102.58 at 172.08.

Daily Pivots: (S1) 160.92; (P) 161.30; (R1) 161.66; More…

Outlook in USD/JPY is unchanged and intraday bias remains neutral at this point. Further rally is expected as long as 160.25 minor support holds. Break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.92; (P) 161.30; (R1) 161.66; More…

Intraday bias in USD/JPY remains neutral for the moment and some more consolidations could be seen first. Further rally is expected as long as 160.25 minor support holds. Break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 161.00; (P) 161.48; (R1) 162.18; More…

Intraday bias in turned neutral with current retreat and some consolidations would be seen below 161.94 temporary top. But further rally is expected as long as 160.25 minor support holds. Break of 161.94 will resume larger up trend to 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. Nevertheless, break of 160.25 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 161.22; (P) 161.52; (R1) 161.76; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current up trend should target 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. On the downside, below 160.95 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 161.22; (P) 161.52; (R1) 161.76; More…

USD/JPY’s rally continues today despite some loss of upside momentum. Intraday bias stays on the upside at this point. Current up trend should target 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. On the downside, below 160.95 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

Daily Pivots: (S1) 160.90; (P) 161.31; (R1) 161.89; More…

No change in USD/JPY’s outlook and intraday bias stays on the upside. Current up trend should target 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. On the downside, below 160.25 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.