Daily Pivots: (S1) 155.32; (P) 155.53; (R1) 155.87; More…
USD/JPY’s fall continues today and intraday bias remains on the upside. Next target is 100% projection of 140.25 to 150.87 from 146.47 at 157.09. On the downside, below 155.30 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 153.58 support holds, in case of retreat.
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 100% projection of 127.20 to 151.89 from 140.25 at 164.94. Outlook will remain bullish as long as 150.87 resistance turned support holds, even in case of deep pullback.
