Daily Pivots: (S1) 134.34; (P) 136.22; (R1) 137.24; More…

Intraday bias in USD/JPY remains on the downside as fall from 151.94 is in progress. Next target is 133.07 medium term fibonacci level. Some support could be seen there to bring recovery. Break of 137.66 support turned resistance will turn intraday bias neutral first. However, near term risk will stay on the downside as long as 142.24 resistance holds, even in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.51).

Daily Pivots: (S1) 137.19; (P) 138.55; (R1) 139.44; More…

Intraday bias in USD/JPY stays on the downside at this point. Current decline from 151.93 should target 133.07 medium term fibonacci level next. On the upside, break of 139.88 resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.51).

Daily Pivots: (S1) 137.19; (P) 138.55; (R1) 139.44; More…

USD/JPY’s decline form 151.93 resumed by breaking through 137.46 temporary low. Intraday bias is back on the downside for 133.07 medium term fibonacci level next. On the upside, break of 139.88 resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.51).

Daily Pivots: (S1) 137.93; (P) 138.64; (R1) 139.42; More…

Intraday bias in USD/JPY is turned neutral first with today’s recovery. Further decline will remain in favor as long as 142.24 resistance holds. Break of 137.36 will resume the fall from 151.93 to 133.07 medium term fibonacci level. However, firm break of 142.24 will indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.51).

Daily Pivots: (S1) 137.93; (P) 138.64; (R1) 139.42; More…

Intraday bias in USD/JPY stays mildly on the downside for the moment. Fall form 151.93 should be resuming for 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. For now, near term outlook will remain bearish as long as 142.24 resistance holds, in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.22).

Daily Pivots: (S1) 137.79; (P) 138.62; (R1) 139.74; More…

Outlook is USD/JPY is unchanged as fall from 151.93 is resuming. Intraday bias stays mildly on the downside. Next target is 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. For now, near term outlook will remain bearish as long as 142.24 resistance holds, in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.22).

Daily Pivots: (S1) 137.79; (P) 138.62; (R1) 139.74; More…

Intraady bias in USD/JPY remains mildly on the downside as fallf rom 151.93 is resuming. Next target is 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. For now, near term outlook will remain bearish as long as 142.24 resistance holds, in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.22).

Daily Pivots: (S1) 138.49; (P) 139.04; (R1) 139.71; More…

Breach of 137.66 support suggests that fall from 151.93 is resuming. Intraday bias in now on the downside for 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. For now, near term outlook will remain bearish as long as 142.24 resistance holds, in case of recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.22).

Daily Pivots: (S1) 138.49; (P) 139.04; (R1) 139.71; More…

Immediate focus is now on 137.66 support in USD/JPY. Firm break there will resume the decline from 151.93, as a correction to larger up trend, to 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. In any case, outlook will stay bearish as long as 142.24 resistance holds.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.22).

USD/JPY’s recovery ended at 142.24 after failing to sustain above 4 hour 55 EMA. But downside was contained above 137.66 support. Initial bias remains neutral this week first. Outlook stays bearish as long as 142.24 resistance holds. Break of 137.66 will resume the fall from 151.93 to 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 131.22).

In the long term picture, rise from 102.58, as part of the up trend from 75.56 (2011 low) was put to a halt at 151.93, just ahead of 100% projection of 75.56 to 125.85 from 102.58 at 152.87. There is no clear sign of long term reversal yet. Such up trend is expected to resume at a later stage, as long as 125.85 resistance turned support holds.

Daily Pivots: (S1) 137.92; (P) 138.78; (R1) 139.51; More…

Focus stays on 137.66 support in USD/JPY. Firm break there will resume the whole fall from 151.93, as a correction to the larger up trend. Next target is 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. Meanwhile, outlook will stay bearish as long as 142.45 resistance holds, in case of another recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 138.64; (P) 140.12; (R1) 141.08; More…

Immediate focus is now on 137.66 support in USD/JPY with today’s decline. Firm break there will resume the whole fall from 151.93, as a correction to the larger up trend. Next target is 100% projection of 146.78 to 137.66 from 142.24 at 133.12, which is close to 133.07 medium term fibonacci level. Meanwhile, outlook will stay bearish as long as 142.45 resistance holds, in case of another recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 138.64; (P) 140.12; (R1) 141.08; More…

USD/JPY’s break of 139.63 minor support suggests that recovery has completed at 142.24. Intraday bias is back on the downside. Break of 137.66 will resume the decline from 151.93 to 133.07 fibonacci level, as a correction to the larger up trend. Outlook will stay bearish as long as 142.45 resistance holds, in case of another recovery.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 140.79; (P) 141.52; (R1) 141.94; More…

Intraday bias in USD/JPY stays neutral at this point. With 142.45 minor resistance intact, further decline is in favor. Break of 139.63 minor support will bring retest of 137.66 low first. Break there will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend. Nevertheless, firm break of 142.45 will turn bias back to the upside for stronger rebound to 55 day EMA (now at 143.32) and above.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 140.79; (P) 141.52; (R1) 141.94; More…

Intraday bias in USD/JPY remains neutral and outlook is unchanged. With 142.45 minor resistance intact, further decline is in favor. Break of 139.63 minor support will bring retest of 137.66 low first. Break there will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend. Nevertheless, firm break of 142.45 will turn bias back to the upside for stronger rebound to 55 day EMA (now at 143.32) and above.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 140.77; (P) 141.51; (R1) 142.86; More…

USD/JPY retreated ahead of 142.45 minor resistance and intraday bias remains neutral first. On the upside, firm break of 142.45 will turn bias back to the upside for stronger rebound to 55 day EMA (now at 143.34) and above. However, break of 139.63 minor support will turn bias back to the downside for 137.66. Break there will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 140.77; (P) 141.51; (R1) 142.86; More…

USD/JPY is still bounded in range of 137.66/142.45 and intraday bias remains neutral first. On the downside, break of 137.66 will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend. Nevertheless, firm break of 142.45 will turn bias back to the upside for stronger rebound to 55 day EMA (now at 143.34) and above.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 139.84; (P) 140.17; (R1) 140.70; More…

USD/JPY is staying below 142.45 minor resistance despite today’s strong recovery. Intraday bias remains neutral for the moment, and further decline is in favor. On the downside, break of 137.66 will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend. Nevertheless, firm break of 142.45 will turn bias back to the upside for stronger rebound to 55 day EMA (now at 143.44) and above.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

Daily Pivots: (S1) 139.84; (P) 140.17; (R1) 140.70; More…

Intraday bias in USD/JPY remains neutral for the moment as consolidations from 137.66 is extending. Further decline is in favor as long as 142.45 minor resistance holds. On the downside, break of 137.66 will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend. Nevertheless, firm break of 142.45 will turn bias back to the upside for stronger rebound to 55 day EMA (now at 143.44) and above.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.28).

USD/JPY edged lower to 137.66 last week but recovered since then. Initial bias remains neutral this week for consolidations. Upside should be limited below 145.16 support turned resistance. On the downside, break of 137.66 will resume the decline from 151.93, to 133.07 fibonacci level, as a correction to the larger up trend.

In the bigger picture, a medium term top should be formed at 151.93. Fall from there is correcting larger up trend from 102.58. It’s too early to call for bearish trend reversal. But even as a corrective move, such decline should target 38.2% retracement of 102.58 to 151.93 at 133.07, or further to 55 week EMA (now at 130.58).

In the long term picture, rise from 102.58, as part of the up trend from 75.56 (2011 low) was put to a halt at 151.93, just ahead of 100% projection of 75.56 to 125.85 from 102.58 at 152.87. There is no clear sign of long term reversal yet. Such up trend is expected to resume at a later stage, as long as 125.85 resistance turned support holds.