Each day Pivots: (S1) 146.93; (P) 147.40; (R1) 147.76; Extra…
No change in USD/JPY’s outlook as consolidation continues beneath 147.88. Intraday bias stays impartial first. Whereas deeper retreat might be seen, outlook will keep bullish so long as 144.43 assist 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 needs to be seen from 151.93 to restrict upside. In the meantime, break of 137.22 assist ought to verify the beginning of the third leg to 127.20 (2023 low) and beneath.
