Day by day Pivots: (S1) 147.78; (P) 148.05; (R1) 148.44; Extra…
USD/JPY’s rally resumed after transient retreat and intraday bias is again on the upside. Present rise from 140.25 ought to goal a retest on 151.89/93 key resistance zone. On the draw back, beneath 147.64 minor help will flip intraday bias impartial once more and produce consolidations, earlier than staging one other rise.
Within the greater image, stronger than anticipated rebound from 140.25 dampened the unique bearish assessment. Sturdy help from 55 W EMA (now at 141.89) can also be a medium time period bullish signal. Fall from 151.89 could possibly be a correction to rise from 127.20 solely. Decisive break of 151.89/93 will verify resumption of long run up pattern. It will now be the favored case so long as 140.25 help holds.
