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Daily Pivots: (S1) 161.22; (P) 161.52; (R1) 161.76; More…

Intraday bias in USD/JPY remains on the upside for the moment. Current up trend should target 61.8% projection of 146.47 to 160.20 from 154.53 at 163.01. On the downside, below 160.95 minor support will turn intraday bias neutral and bring consolidations again, before staging another rally.

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In the bigger picture, long term up trend is still in progress. Further rise is expected as long as 154.53 support holds. Next target is 100% projection of 127.20 (2023 low) to 151.89 (2023 high) from 140.25 at 164.94.

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