Each day Pivots: (S1) 148.80; (P) 149.09; (R1) 149.52; Extra…
There isn’t a clear signal of topping in USD/JPY but though it continues to lose upside second. Additional rise is in favor to 61.8% projection of 130.38 to 140.33 from 145.89 at 149.91. But, beware that Japan may intervene once more to defend 150 psychological degree. On the draw back, break of 146.43 minor assist will point out brief time period topping and produce deeper pull again.
Within the larger image, up pattern from 101.18 continues to be in progress, as a part of the entire up pattern from 75.56 (2011 low). 147.68 (1998 excessive) was already met and there’s not clearly signal of topping but. In any case, break of 139.37 resistance turned assist is required to be the primary signal of medium time period topping. In any other case, additional rise is in favor to subsequent goal at 160.16 (1990 excessive).
