Daily Pivots: (S1) 155.32; (P) 155.53; (R1) 155.87; More…
Intraday bias in USD/JPY remains on the upside for 100% projection of 140.25 to 150.87 from 146.47 at 157.09. Some resistance could be seen there to bring retreat. But further rally is expected as long as 154.77 resistance turned support holds. Sustained break of 157.09 will target 138.2% projection at 161.14 next.
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.
