USD/JPY Daily Outlook
Daily Pivots: (S1) 101.03; (P) 101.37; (R1) 101.60; More...
Intraday bias in USD/JPY remains netural for the moment and some more consolidations could be seen below 101.91 temporary top. Further rally cannot be ruled out yet. But as noted before, the consolidation pattern from 103.73 might not be finished yet. We'd be cautious on reversal between 101.53/103.73. Break of 100.43 will argue that USD/JPY might have reversed and will turn bias back to the downside for 99.00 resistance turned support.
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 75.56 is expected to resume after the consolidation.