USD/JPY Daily Outlook
Daily Pivots: (S1) 97.68; (P) 98.10; (R1) 98.76; More...
No change in USD/JPY's outlook and we'd continue to favor another fall in the pair. Below 96.81 will target 95.80 first. Break will resume whole decline from 101.53 and should target 93.78 support next. However, above 99.14 will resume the rebound from 95.80 towards 101.53 resistance. Overall, consolidation pattern from 103.73 is still in progress and more sideway trading would be seen.
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.