USD/JPY Daily Outlook
Daily Pivots: (S1) 98.62; (P) 99.53; (R1) 100.19; More..
The break of 98.89 minor support suggests that USD/JPY's fall from 101.53 is resuming. Intraday bias is back on the downside for 98.18 first. Also, noted that fall from 101.53 is viewed as the third leg of the consolidation pattern from 103.73. Break of 98.18 will target 93.78 support and below. On the upside, though, above 100.45 minor resistance would extend the rebound from 93.78 towards 103.73.
In the bigger picture, USD/JPY made a top at 103.73 and turned into consolidations. Some more sideway trading would be seen below 103.73. In case of another fall, downside will likely be contained by 92.56 support and bring rebound. Rise from 103.73 is expected to resume after the consolidation.