USD/JPY Daily Outlook

Daily Pivots: (S1) 114.89; (P) 115.37; (R1) 115.69; More…

Intraday bias in USD/JPY remains neutral and outlook is unchanged. Downside of the retreat from 116.34 should be contained well well above 114.26 resistance turned support to bring rally resumption. On the upside, firm break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 115.39; (P) 115.71; (R1) 115.89; More…

USD/JPY’s pull back from 116.34 extends lower today but outlook is unchanged. Downside of retreat should be contained well well above 114.26 resistance turned support to bring rally resumption. On the upside, firm break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 115.39; (P) 115.71; (R1) 115.89; More…

Intraday bias in USD/JPY remains neutral for consolidation below 116.34 temporary top. Downside of retreat should be contained well well above 114.26 resistance turned support to bring rally resumption. On the upside, firm break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Weekly Outlook

USD/JPY’s up trend resumed last week and hit as high as 116.34. But a temporary top was formed ahead of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47. Initial bias remains neutral this week for some consolidations. Downside should be contained well above 114.26 resistance turned support to bring rally resumption. On the upside, firm break of 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

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) 115.60; (P) 115.89; (R1) 116.16; More…

USD/JPY is staying in consolidation below 116.34 temporary top and intraday bias remains neutral. Downside of retreat should be contained well above 114.26 support turned resistance to bring another rally. On the upside, sustained break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 115.60; (P) 115.89; (R1) 116.16; More…

Intraday bias in USD/JPY remains neutral for consolidation below 116.34 temporary top. Downside of retreat should be contained well above 114.26 support turned resistance to bring another rally. On the upside, sustained break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 115.74; (P) 115.99; (R1) 116.36; More…

USD/JPY is staying in consolidation below 116.34 temporary top and intraday bias remains neutral. Some consolidations could be seen but downside should be contained well above 114.26 support turned resistance to bring another rally. On the upside, sustained break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 115.74; (P) 115.99; (R1) 116.36; More…

Intraday bias in USD/JPY remains neutral for consolidation below 116.34 temporary top. Some consolidations could be seen but downside should be contained well above 114.26 support turned resistance to bring another rally. On the upside, sustained break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 115.50; (P) 115.93; (R1) 116.56; More…

A temporary top is formed at 116.34 in USD/JPY and intraday bias is turned neutral first. Some consolidations could be seen. But downside should be contained well above 114.26 support turned resistance to bring another rally. On the upside, sustained break of 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47 will pave the way to 100% projection at 118.90, which is close to 118.65 long term resistance.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 115.50; (P) 115.93; (R1) 116.56; More…

Intraday bias in USD/JPY remains on the upside for 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47. Firm break there will extend the up trend from 102.58 to 100% projection at 118.90, which is close to 118.65 long term resistance. On the downside, below 115.64 minor support will turn intraday bias neutral and bring some consolidations, before staging another rally.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 115.08; (P) 115.22; (R1) 115.50; More…

USD/JPY’s rally is in acceleration and intraday bias stays on the upside for 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47. Firm break there will extend the up trend from 102.58 to 100% projection at 118.90, which is close to 118.65 long term resistance. On the downside, below 115.64 minor support will turn intraday bias neutral and bring some consolidations, before staging another rally.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 120.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 115.08; (P) 115.22; (R1) 115.50; More…

USD/JPY rises to as high as 115.80 so far today and the strong break of 115.51 resistance confirms resumption of whole up trend from 102.58. Intraday bias stays on the upside for 61.8% projection of 109.11 to 115.51 from 112.52 at 116.47. Firm break there will target 100% projection at 118.90, which is close to 118.65 long term resistance. On the downside, break of 114.93 will turn intraday bias neutral and bring some consolidations, before staging another rally.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high). Sustained break there will pave the way to 112.85 (2015 high) and raise the chance of long term up trend resumption. For now, this will remain the favored case as long as 112.52 support holds, in case of deep pull back.

USD/JPY Daily Outlook

Daily Pivots: (S1) 114.70; (P) 114.83; (R1) 114.94; More…

Intraday bias in USD/JPY remains on the upside at this point. Rise from 112.52 should target a test on 115.51 high first. Firm break there will resume larger up trend to 118.65 long term resistance next. On the downside, however, break of 114.30 will turn bias to the downside, and extend the corrective pattern from 115.51 with another falling leg back to 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.70; (P) 114.83; (R1) 114.94; More…

USD/JPY’s rally is still in progress and intraday bias stays on the upside. Rise from 112.52 should target a test on 115.51 high first. Firm break there will resume larger up trend to 118.65 long term resistance next. On the downside, however, break of 114.30 will turn bias to the downside, and extend the corrective pattern from 115.51 with another falling leg back to 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Daily Outlook

Daily Pivots: (S1) 114.70; (P) 114.83; (R1) 114.94; More…

Intraday bias in USD/JPY stays on the upside at this point. Rise from 112.52 should target a test on 115.51 high first. Firm break there will resume larger up trend to 118.65 long term resistance next. On the downside, however, break of 114.30 will turn bias to the downside, and extend the corrective pattern from 115.51 with another falling leg back to 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 114.49; (P) 114.71; (R1) 115.10; More…

Intraday bias in USD/JPY remains on the upside as rise from 112.52 is in progress. Further rise would be seen to retest 115.51 high first. Firm break there will resume larger up trend to 118.65 long term resistance next. On the downside, however, break of 114.30 will turn bias to the downside, and extend the corrective pattern from 115.51 with another falling leg back to 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Daily Outlook

Daily Pivots: (S1) 114.49; (P) 114.71; (R1) 115.10; More…

USD/JPY’s rebound from 112.52 accelerates to as high as 114.94 so far. Intraday bias remains on the upside for retesting 115.51 high first. Firm break there will resume larger up trend to 118.65 long term resistance next. On the downside, however, break of 114.30 will turn bias to the downside, and extend the corrective pattern from 115.51 with another falling leg back to 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.69; (P) 113.96; (R1) 114.36; More…

Intraday bias in USD/JPY remains mildly on the upside for the moment. Rebound from 112.52 is in progress, for retesting 115.51 high. However, break of 113.12 support will turn bias to the downside, and resume the correction from 115.51 through 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.69; (P) 113.96; (R1) 114.36; More…

Intraday bias in USD/JPY is mildly on the upside as rebound from 112.52 is in progress, for retesting 115.51 high. However, break of 113.12 support will turn bias to the downside, and resume the correction from 115.51 through 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.69; (P) 113.96; (R1) 114.36; More…

USD/JPY’s rebound from 122.52 resumed by breaking 114.26 resistance. Intraday bias is back on the upside for retesting 115.51 high. On the downside, break of 113.12 will turn bias to the downside, and resume the correction from 115.51 through 112.52 support.

In the bigger picture, no change in the view that rise from 102.58 is the third leg of the up trend from 101.18 (2020 low). Such rally should target a test on 118.65 (2016 high) on resumption. However, firm break of 109.11 structural support will argue that the trend might have reversed and bring deeper fall to 107.47 support and possibly below.