USD/JPY Daily Outlook

Daily Pivots: (S1) 109.05; (P) 109.27; (R1) 109.51; More…

Intraday bias in USD/JPY remains neutral, and further rise is in favor with 108.70 minor support intact. On the upside, break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.75; (P) 109.23; (R1) 109.55; More…

Intraday bias in USD/JPY is neutral for some consolidations. but further rise is in favor with 108.70 minor support intact. Break of 109.68 will resume the rebound from 107.47 for retesting 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.75; (P) 109.23; (R1) 109.55; More…

With 108.70 minor support intact, further rise is still in favor in USD/JPY. Rebound from 107.47 would target 109.95 resistance first. Break there will pave the way to retest 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.91; (P) 109.13; (R1) 109.54; More…

Intraday bias in USD/JPY stays mildly on the upside at this point. Rebound from 107.47 will target 109.95 resistance first. Break there will pave the way to retest 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.91; (P) 109.13; (R1) 109.54; More…

USD/JPY’s rebound from 107.47 continues today and hits as high as 109.58 so far. Intraday bias stays on the upside for 109.95 resistance first. Break there will pave the way to retest 110.95 high. On the downside, though, break of 108.70 minor support will turn bias back to the downside for 107.47 support again, to extend the pattern from 110.95.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullishness for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

USD/JPY Weekly Outlook

USD/JPY rebounded strong last week, after drawing support from 55 day EMA. Further rise is mildly in favor as long as 108.42 minor support holds, to 109.95 resistance first. Break there will target 110.95 high next. Nevertheless, break of 108.42 minor support will turn bias to the downside, to resume the fall from 110.95 through 107.47.

In the bigger picture, rise from 102.58 might have completed at 110.95. But strong support from 55 day EMA retains near term bullish for the pair. Break of 110.95 resistance will carry larger bullish implications and target 112.22 resistance next. Though, break of 107.47 support will shift favor to the case of long term sideway trading between 101.18/111.71.

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) 108.50; (P) 108.86; (R1) 109.28; More…

No change in USD/JPY’s outlook. Further rise is in favor for 109.95 resistance first. Break there will bring retest of 110.95 high. On the downside, break of 108.42 minor support will turn bias to the downside for 107.47 support again.

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 price actions from 110.95 to gauge the chance of upside breakout at a later stage.

 

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.50; (P) 108.86; (R1) 109.28; More…

With 108.42 minor support intact, further rise is in favor in USD/JPY for 109.95 resistance first. Break there will bring retest of 110.95 high. On the downside, break of 108.42 minor support will turn bias to the downside for 107.47 support again.

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 price actions from 110.95 to gauge the chance of upside breakout at a later stage.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.43; (P) 108.76; (R1) 108.94; More…

USD/JPY’s rebound from 107.47 resumed after brief retreat. Intraday bias is back on the upside for 109.95 resistance first. Break till bring retest of 110.95 high. On the downside, break of 108.42 minor support will turn bias to the downside for 107.47 support again.

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 price actions from 110.95 to gauge the chance of upside breakout at a later stage.

USD/JPY Daily Outlook

Daily Pivots: (S1) 108.43; (P) 108.76; (R1) 108.94; More…

Intraday bias in USD/JPY is turned neutral first with the retreat from 109.06. On the upside, above 109.06 will extend the rebound from 107.47 to 109.95 resistance first. Break there will bring retest of 110.95 high. On the downside, break of 108.19 minor support will turn bias back to the downside for 107.47 support, and then 61.8% retracement of 102.58 to 110.95 at 105.77.

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 price actions from 110.95 to gauge the chance of upside breakout at a later stage.

 

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 108.29; (P) 108.54; (R1) 108.99; More…

Intraday bias in USD/JPY remains mildly on the upside at this point. The support from 55 day EMA revived some near term bullishness. Further rise would be seen to 109.95 resistance first. Break there will bring retest of 110.95 high. On the downside, break of 108.19 minor support will turn bias back to the downside for 107.47 support, and then 61.8% retracement of 102.58 to 110.95 at 105.77.

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) 108.29; (P) 108.54; (R1) 108.99; More…

USD/JPY’s break of 108.53 minor resistance suggests short term bottoming at 107.47. The notable support from 55 day EMA revives some near term bullishness. Intraday bias is back on the upside for 109.95 resistance. Break there will bring retest of 110.95 high. On the downside, break of 107.47 will extend the fall to 61.8% retracement of 102.58 to 110.95 at 105.77.

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 Mid-Day Outlook

Daily Pivots: (S1) 107.75; (P) 107.98; (R1) 108.31; More…

USD/JPY is staying in consolidation above 107.47 temporary low and intraday bias remains neutral. Further fall is expected with 108.53 minor resistance intact. Break of 107.47 will resume the decline from 110.95 to 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) 107.75; (P) 107.98; (R1) 108.31; More…

Intraday bias in USD/JPY is neutral for some consolidations above 107.47. Further fall is expected with 108.53 minor resistance intact. Break of 107.47 will resume the decline from 110.95 to 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 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.