USD/JPY rebounded strongly final week however upside is capped under 151.69 resistance thus far. Consolidation from 151.69 might nonetheless lengthen additional. Break of 150.75 will begin a falling leg again in the direction of 148.79 help. However general, so long as 148.79 help holds, bigger rise from 127.20 is predicted to proceed. Decisive break of 151.69 excessive will resume bigger up pattern.
Within the larger image, rapid focus is now on 151.93 resistance (2022 excessive). Rejection by 151.93, adopted by sustained break of 145.06 resistance turned help will argue that rise from 127.20 has accomplished, and switch outlook bearish for 137.22 help and under. Nevertheless, sustained break of 151.93 will verify resumption of long run up pattern. Subsequent goal might be 61.8% projection of 102.58 to 151.93 from 127.20 at 157.69.
In the long run image, up pattern from 75.56 (2011 low) continues to be in progress. Subsequent goal might be 61.8% projection of 102.58 to 151.93 from 127.20 at 157.69. This can stay the favored case so long as 125.85 resistance turned help holds.
