The pair could not break through the support at 1.5540. The bias is positive for a test of 1.5700 and the key resistance at 1.5800. Support is at 1.5400-20
The heavy resistance around 124.20 level once again stopped the rise of the pair. I keep my negative outlook for a decline toward 122.55 before the uptrend resumes.
The support level around 1.1359 was very firm today. The pair reached prices higher than 1.1422. There is no sign of the low levels around 1.1150 from a week ago.
The bias ia negative for a new test of the 1.1290 support and if broken the pair will go for the important support at 1.1150. Intraday resistance is 1.1320-30.
After breaking through the resistance at 123.80, USD/JPY is expected to continue rising, testing the levels around 124.40. The intraday support is 123.80.
After it failed in breaching the resistance around 1.5800, the pair went down, finding support around 1.5670. A test of the 1.5670 support is expected.
The currency pair continues to hesitate in the 1.1150-1.1230 interval. Possible break of the upper border of the range, which would set the mood for an uptrend toward the important resistance at 1.1430.
The downtrend here is intact with the recent break through 1.1135, heading towards 1.0820 low. Key resistance on the upside lies at 1.1135 and initial support is projected at 1.0960.
The pair finally broke through 1.5670 static support and the bias is bearish, for a slide towards 1.5440. Initial intraday resistance is seen at 1.5622, followed by the crucial area at 1.5670.
The recent failures at 1.1125 led to a renewal of the downtrend, currently aiming for a break through 1.0954, en route to 1.0820 area. Initial resistance lies at 1.1064.
The intraday bias is positive after the recent reversal at 1.5330, but a break though 1.5430 is needed to signal a more substantial rise towards 1.5540 resistance area.
The uptrend is intact and current slide should be considered corrective, thus preceding an advance towards 123.70. Initial intraday support lies at 122.10, followed by the key one at 121.50.
The downtrend from 1.1215 is still intact and although the intraday bias is positive, I expect the rebound to be limited below 1.1055 minor resistance, before another leg downwards, for a break through 1.0915.
