USD/JPY Daily Analysis
USD/JPY’s break of 145.89 confirms up-trend resumption. Intraday bias is back on the upside for 147.68 long-term resistance. On the downside, the break of 145.41 minor support will turn intraday bias neutral and bring consolidations again. But overall, the outlook will remain bullish as long as 140.33 support holds, even in case of a deep pullback.
In the bigger picture, the up trend from 101.18 is still in progress, as part of the whole up trend from 75.56 (2011 low). The further rise should be seen to 147.68 (1998 high). For now, the break of 130.38 support is needed to be the first indication of medium-term topping. Otherwise, the outlook will stay bullish even in case of a deep pullback.
