Each day Pivots: (S1) 146.93; (P) 147.40; (R1) 147.76; Extra…
Intraday bias in USD/JPY stays impartial for consolidation beneath 147.88. Whereas deeper retreat might be seen, outlook will keep bullish so long as 144.43 help holds. On the upside, above 147.88 will resume bigger rally from 127.20, to retest 151.93 excessive.
Within the larger image, total worth actions from 151.93 (2022 excessive) are views as a corrective sample. Rise from 127.20 is seen because the second leg of the sample and will nonetheless be in progress. However even in case of prolonged rise, sturdy resistance must be seen from 151.93 to restrict upside. In the meantime, break of 137.22 help ought to affirm the beginning of the third leg to 127.20 (2023 low) and beneath.
