Every day Pivots: (S1) 148.35; (P) 148.91; (R1) 149.89; Extra…
USD/JPY’s rally from 140.25 continues to be in progress and intraday bias stays on the upside. Additional rally can be seen to retest 151.89/93 key resistance zone. Decisive break there’ll affirm resumption of bigger up development. On the draw back, under 147.62 minor assist will flip intraday bias impartial first. However close to time period outlook will stay cautiously bullish so long as 145.88 assist holds.
Within the greater image, fall from 151.89 is seen as a correction to the rally from 127.20, which could have accomplished at 140.25 already. Agency break of 151.89/93 resistance zone will affirm up development resumption, and subsequent goal might be 61.8% projection of 127.20 to 151.89 from 140.25 at 155.50. This may now stay the favored case so long as 140.25 assist holds.
