Daily Pivots: (S1) 152.45; (P) 152.76; (R1) 153.18; More…
Intraday bias in USD/JPY stays mildly on the upside for 153.26 and then 100% projection of 142.66 to 150.90 from 145.47 at 153.71. Firm break would extend the rise from 139.87 to 100% projection of 142.66 to 150.90 from 145.47 at 153.71. On the downside, below 152.25 minor support will turn intraday bias neutral again first.
In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. On the downside, break of 145.47 support will dampen this bullish view and extend the corrective pattern with another falling leg.
