Technical Outlook USDJPY Outlook USD/JPY Mid-Day Outlook

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 154.18; (P) 154.48; (R1) 155.04; More…

Intraday bias stays mildly on the upside with 153.89 minor support intact. USD/JPY is still in favor to rise towards 155.20 fibonacci projection level. But upside could be limited there, at least on first attempt, to bring pull back. On the downside, below 153.89 will turn bias back to the downside for 55 4H EMA (now at 153.20).

In the bigger picture, current rise from 140.25 is seen as the third leg of the up trend from 127.20 (2023 low). Next target is 61.8% projection of 127.20 to 151.89 from 140.25 at 155.20. Outlook will now remain bullish as long as 146.47 support holds, even in case of deep pullback.



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