Mon, May 29, 2023 @ 04:30 GMT

USD/JPY Daily Outlook

Daily Pivots: (S1) 132.68; (P) 133.26; (R1) 134.35; More…

Breach of 130.04 suggests that USD/JPY’s rebound from 129.26 is resuming. Intraday bias is back on the upside for rally towards 137.90 resistance. For now, further rise will remain in favor as long as 132.03 support holds, in case of retreat.

In the bigger picture, corrective pattern from 127.20 might be extending. But after all, down trend from 151.93 is expected to resume at a later stage. Break of 127.20 will resume this down trend and target 61.8%

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