Daily Pivots: (S1) 152.54; (P) 152.90; (R1) 153.23; More…
USD/JPY’s break of 152.25 minor support and then 55 4H EMA (now at 151.95) suggests that rise from 149.37 has completed after rejection by 153.26 resistance. Fall from 153.24 should be then third leg of the corrective pattern from 153.26. Intraday bias is back on the downside for 149.37 support next. For now, risk will stay mildly on the downside as long as 153.24 holds, in case of recovery.
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.
 suggests that rise from 149.37 has completed after rejection by 153.26 resistance. Fall from 153.24 should be then third leg of the corrective pattern from 153.26. Intraday bias is back on the downside for 149.37 support next. For now, risk will stay mildly on the downside as long as 153.24 holds, in case of recovery.){kind=link}