At this point, intraday bias in USD/JPY remains on the upside with 96.78 minor
support intact. As discussed before, the decisive break of short term falling
channel resistance indicates that fall from 101.43 has completed with three
waves down to 91.73 already. Further rise should be seen to 98.87 resistance
first and break there will confirm this case and target 101.43 high next. On
the downside, below 96.78 minor support will turn intraday outlook neutral
first and bring consolidation. But downside should be contained above 95.05
support and bring rally resumption.[actionforex]
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