Day by day Pivots: (S1) 148.22; (P) 148.73; (R1) 149.02; Extra…
USD/JPY recovers after breaching 148.24 minor help and intraday bias stays impartial. Consolidation from 150.15 continues to be extending. On the draw back, beneath 148.24 minor help will flip bias to the draw back for one more down leg by way of 147.28. However there isn’t any affirmation of bearish pattern reversal earlier than agency break of 144.43 help. One other rally stays mildly in favor by way of 150.15 to retest 151.93 excessive.
Within the greater image, whereas rise from 127.20 is robust, it might nonetheless be seen because the second leg of the corrective sample from 151.93 (2022 excessive). Rejection by 151.93, adopted by sustained break of 145.06 resistance turned help would be the first signal that the third leg of the sample has began. Nevertheless, sustained break of 151.93 will affirm resumption of long run up pattern.
