Daily Pivots: (S1) 153.12; (P) 153.57; (R1) 154.34; More…
Intraday bias in USD/JPY remains neutral for the moment. On the upside, firm break of 55 4H EMA (now at 154.79) will bring stronger rebound towards 157.98 resistance. On the downside, below 151.86 will resume the fall from 160.20. But strong support should be seen from 150.87 resistance turned support to bring rebound.
In the bigger picture, a medium term top might be formed at 160.20. But as long as 150.87 resistance turned support holds, fall from there is seen as correcting rise from 150.25 only. However, decisive break of 150.87 will argue that larger correction is possibly underway, and target 146.47 support next.
