USD/JPY Daily Outlook
Daily Pivots: (S1) 98.49; (P) 98.97; (R1) 99.60; More...
USD/JPY edges higher today and intraday remains on the upside. As noted before, the correction from 103.73 has completed at 93.78 and further rise should be seen back to retest 1013.73. On the downside, break of 96.95 is needed to signal completion of the rebound. Otherwise, outlook stays cautiously bullish.
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 through