USD/JPY Daily Outlook
Daily Pivots: (S1) 92.99; (P) 93.25; (R1) 93.58; More..
The breach of 94.45 suggests that recent up trend in USD/JPY has resumed. Intraday bias is back on the upside for 94.98 medium term level first. Sustained trading above there will target 100 key psychological level. On the downside, break of 92.77 will indicate short term topping and would likely bring deeper pull back to 90.24 support before staging another rise.
In the bigger picture, whole decline from 124.13 should have already completed at 75.56. Stronger medium term rally could be seen back towards back towards 101.22 key support turned resistance level. In any case, we'll now stay bullish as long as 84.17 resistance turned support holds.