Daily Pivots: (S1) 108.87; (P) 109.39; (R1) 109.77; More…

USD/JPY’s breach of 109.93 minor resistance suggests that corrective pull back from 110.95 has completed at 108.99. Intraday bias is back on the upside for retesting 110.95 high first. On the downside, break of 108.99 will extend the correction to 108.40 support and possibly below. But downside should be contained by 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound.

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 107.67), will dampen the bullish view and keep medium term outlook neutral first.

Daily Pivots: (S1) 108.87; (P) 109.39; (R1) 109.77; More…

Intraday bias in USD/JPY stays mildly on the downside at this point. Correction from 110.95 could extend to 108.40 support and possibly below. But downside should be contained by 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.93 minor resistance will turn intraday bias back to the upside for retesting 110.95 high first.

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 107.67), will dampen the bullish view and keep medium term outlook neutral first.

Daily Pivots: (S1) 109.63; (P) 109.78; (R1) 109.99; More…

USD/JPY’s correction from 110.95 short term top accelerates lower today. Deeper fall would be seen to 108.40 support and possibly below. But downside should be contained by 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, above 109.93 minor resistance will turn intraday bias back to the upside for retesting 110.95 high first.

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 107.61), will dampen the bullish view and keep medium term outlook neutral first.

Daily Pivots: (S1) 109.63; (P) 109.78; (R1) 109.99; More…

USD/JPY’s correction from 110.95 short term top is still in progress. Deeper decline could be seen to 108.40 support. But downside should be contained by 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, firm break of 110.95 will resume the whole rise from 102.58, for 111.71/112.22 resistance zone next

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.42; (P) 109.99; (R1) 110.30; More…

USD/JPY’s correction from 110.95 short term top is still in progress and deeper fall could be seen to 108.40 support. But downside should be contained by 38.2% retracement of 102.58 to 110.95 at 107.75 to bring rebound. On the upside, firm break of 110.95 will resume the whole rise from 102.58, for 111.71/112.22 resistance zone next

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.42; (P) 109.99; (R1) 110.30; More…

USD/JPY is staying in consolidation from 110.95 and intraday bias remains neutral first. Overall outlook will remain bullish as long as 108.40 support holds. On the upside, break of 110.95 will resume the whole rise from 102.58, for 111.71/112.22 resistance zone next. However, firm break of 108.40 will indicate that deeper correction is underway for 55 day EMA (now at 107.61) and possibly below.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.84; (P) 110.30; (R1) 110.63; More…

Intraday bias in USD/JPY stays neutral and more consolidation could be seen below 110.95. Overall outlook will remain bullish as long as 108.40 support holds, and further rally is expected. On the upside, break of 110.95 will resume the whole rise from 102.58, for 111.71/112.22 resistance zone next.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.84; (P) 110.30; (R1) 110.63; More…

Intraday bias in USD/JPY remains neutral as consolidation form 110.95 is still extending. Overall outlook will remain bullish as long as 108.40 support holds, and further rally is expected. On the upside, break of 110.95 will resume the whole rise from 102.58, for 111.71/112.22 resistance zone next.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 110.43; (P) 110.59; (R1) 110.80; More…

Intraday bias in USD/JPY is turned neutral with a temporary top formed at 110.95. Some consolations could be seen. But further rally is expected as long as 108.40 support holds. On the upside, break of 110.95 will resume the whole rise from 102.58, for 111.71/112.22 resistance zone next.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 110.33; (P) 110.65; (R1) 111.02; More…

Intraday bias in USD/JPY remains mildly on the upside for 111.71/112.22 resistance. Firm break there will solidify medium term bullishness. On the downside, below 110.17 minor support will turn intraday bias neutral and bring consolidations first. But outlook will remain bullish as long as 108.40 support holds, in case of pull back.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 110.33; (P) 110.65; (R1) 111.02; More…

Intraday bias in USD/JPY remains on the upside for 111.71/112.22 resistance. Firm break there will solidify medium term bullishness. On the downside, below 110.17 minor support will turn intraday bias neutral and bring consolidations first. But outlook will remain bullish as long as 108.40 support holds, in case of pull back.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.92; (P) 110.18; (R1) 110.60; More…

USD/JPY’s rally is still in progress and intraday bias remains on the upside for 111.71/112.22 resistance. Firm break there will solidify medium term bullishness. On the downside, below 110.17 minor support will turn intraday bias neutral and bring consolidations first. But outlook will remain bullish as long as 108.40 support holds, in case of pull back.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.92; (P) 110.18; (R1) 110.60; More…

USD/JPY’s rise accelerates to as high as 110.95 so far. Intraday bias stays on the upside for 111.71/112.22 resistance. Firm break there will solidify medium term bullishness. On the downside, below 110.17 minor support will turn intraday bias neutral and bring consolidations first. But outlook will remain bullish as long as 108.40 support holds, in case of pull back.

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. Rejection by 111.71, however, will keep medium term outlook neutral first.

Daily Pivots: (S1) 109.53; (P) 109.69; (R1) 110.00; More…

USD/JPY’s rally continues today and reaches as high as 110.38 so far. Intraday bias remains on the upside. Sustained break of long term channel resistance will carry larger bullish implication and target 111.71 resistance next. On the downside, below 109.70 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 108.40 support holds, in case of retreat.

In the bigger picture, focus is now back on long term channel resistance (now at 110.00). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 109.53; (P) 109.69; (R1) 110.00; More...

Intraday bias in USD/JPY remains on the upside at this point. Current rise from 102.58 should target long term channel resistance at 110.00. Decisive break there will carry larger bullish implication and target 111.71 resistance next. On the downside, break of 108.40 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, focus is now back on long term channel resistance (now at 110.00). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 109.26; (P) 109.55; (R1) 109.98; More...

USD/JPY’s rally is still in progress and intraday bias remains on the upside. Current rise from 102.58 should target long term channel resistance at 110.00. Decisive break there will carry larger bullish implication and target 111.71 resistance next. On the downside, break of 108.40 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, focus is now back on long term channel resistance (now at 110.00). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 109.26; (P) 109.55; (R1) 109.98; More...

Intraday bias in USD/JPY stays on the upside at this point. Current rise from 102.58 should target long term channel resistance at 110.00. Decisive break there will carry larger bullish implication and target 111.71 resistance next. On the downside, break of 108.40 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, focus is now back on long term channel resistance (now at 110.00). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

USD/JPY’s rise from 102.58 resumed by taking out 109.35 resistance last week. Initial bias stays on the upside this week for long term channel resistance at 110.00. Decisive break there will carry larger bullish implication and target 111.71 resistance next. On the downside, break of 108.40 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, focus is now back on long term channel resistance (now at 110.00). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

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.

Daily Pivots: (S1) 108.87; (P) 109.05; (R1) 109.38; More..

USD/JPY’s rise from 102.58 resumes by breaking through 109.35 today, and hits as high as 109.81 so far. Intraday bias is back on long term channel resistance at 110.00. Decisive break there will carry larger bullish implications and target 111.71 resistance next. On the downside, break of 108.40 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, focus is now back on long term channel resistance (now at 110.00). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.

Daily Pivots: (S1) 108.87; (P) 109.05; (R1) 109.38; More..

Intraday bias stays neutral for the momentum and further rally is expected with 108.33 minor support intact. On the upside, break of 109.35 will resume the larger rise from 102.58 long term channel resistance at 110.02 next. However, on the downside, break of 108.33 will indicate short term topping. Intraday bias will be turned to the downside for deeper correction.

In the bigger picture, focus is now back on long term channel resistance (now at 110.02). Sustained break there will indicate that the down trend from 118.65 (Dec 2016) has completed. Further break of 112.22 resistance will confirm this bullish case and target 118.65 next. However, rejection by the channel resistance will keep medium term outlook bearish.