Each day Pivots: (S1) 153.91; (P) 156.95; (R1) 159.37; Extra…
USD/JPY is extending consolidation from 160.20 and intraday stays impartial. Sturdy help could possibly be seen from 38.2% retracement of 146.47 to 160.20 at 154.95 to deliver restoration. However break of 160.20 just isn’t envisaged for now. Nevertheless, agency break of 154.95 will flip bias to the draw back for deeper correction to 55 D EMA (now at 152.00).
Within the greater image, present rise from 140.25 is seen because the third leg of the up pattern from 127.20 (2023 low). Subsequent goal is 100% projection of 127.20 to 151.89 from 140.25 at 164.94. Outlook will stay bullish so long as 150.87 resistance turned help holds, even in case of deep pullback.
