Daily Pivots: (S1) 128.00; (P) 128.39; (R1) 128.85; More….

EUR/JPY’s rebound from 146.89 extends higher to 128.69 so far and met 55 day EMA already. Intraday bias stays on the upside and further rally could be seen towards 131.97 resistance. On the downside, break of 127.33 minor support will suggest that the rebound has completed and bring retest of 124.61/89 support zone.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 127.60; (P) 127.93; (R1) 128.54; More….

With 126.60 minor support intact, further rise is expected in EUR/JPY for 55 day EMA (now at 128.78). Sustained trading above there will target 131.97 key resistance next. On the downside, below 126.60 minor support will bring retest of 124.61/89 support zone instead.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 126.55; (P) 127.31; (R1) 128.36; More….

EUR/JPY’s rebound from 124.89 extended by breaking 126.98 resistance decisively. Intraday bias stays on the upside for 55 day EMA (now at 127.79). Sustained trading above there will target 131.97 key resistance next. On the downside, below 126.60 minor support will bring retest of 124.61/89 support zone instead.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 126.14; (P) 126.33; (R1) 126.59; More….

EUR/JPY’s rebound from 124.89 extended higher and breached 126.98 resistance. But there is no follow through rally yet. Intraday bias remains neutral at this point. As long as 126.98 minor resistance holds, deeper fall could still be seen. But considering mild bullish convergence condition in 4 hour MACD, downside should be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound to 55 day EMA (now at 128.88).

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 125.78; (P) 126.19; (R1) 126.81; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 124.89 temporary low. As long as 126.98 minor resistance holds, deeper fall could still be seen. But considering mild bullish convergence condition in 4 hour MACD, downside should be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

EUR/JPY dropped to as low as 124.89 last week but lost momentum and turned sideway ahead of 124.61 low. Initial bias is neutral this week first. As long as 126.98 minor resistance holds, deeper fall could still be seen. But considering mild bullish convergence condition in 4 hour MACD, downside should be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 125.46; (P) 125.98; (R1) 126.67; More….

Intraday bias in EUR/JPY remains neutral for the moment. With 126.98 minor resistance intact, deeper fall could still be seen. But considering loss of downside momentum, downside will likely be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 124.91; (P) 125.64; (R1) 126.38; More….

EUR/JPY edged lower to 124.89 but quickly recovered. Intraday bias is turned neutral first. Considering mild bullish convergence condition in 4 hour MACD, in case of another fall, downside will likely be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 125.58; (P) 126.29; (R1) 126.76; More….

EUR/JPY’s decline resumes after brief consolidation and reaches as low as 124.89 so far. Intraday bias is back on the downside for 124.61 low. Decisive break there will resume whole down trend from 137.49 and put 124.80 key support level in focus. Decisive break there will carry larger bearish implications. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 125.58; (P) 126.29; (R1) 126.76; More….

EUR/JPY is staying in consolidation from 125.13 and intraday bias remains neutral first. More corrective trading could be seen and stronger recovery cannot be ruled out. But upside should be limited well below 128.49 support turned resistance to bring fall resumption. On the downside, break of 125.13 will target 124.61 key support next.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 125.39; (P) 126.08; (R1) 127.03; More….

EUR/JPY’s strong rebound and break of 126.80 indicates temporary bottoming at 125.13. Intraday bias is now turned neutral for consolidation. Stronger recovery might be see, but upside should be limited well below 128.49 support turned resistance to bring fall resumption. On the downside, break of 125.13 will target 124.61 key support next.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 125.70; (P) 128.36; (R1) 127.82; More….

EUR/JPY’s decline continues today and reaches as low as 125.13 so far. Intraday bias remains on the downside for retesting 124.61 low. Break will resume howl down trend from 137.49. On the upside, above 126.80 minor resistance will turn intraday bias neutral and bring consolidation. But recovery should be limited below 128.49 resistance to bring another fall.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

EUR/JPY dropped sharply to as low as 126.00 last week. The solid break of 127.13 support confirmed our view that corrective rise from 124.61 has completed with three waves up to 131.97. And more importantly, the whole fall from 137.49 is likely resuming. Initial bias remains on the downside this week for 124.61 . On the upside, above 127.38 minor resistance will turn intraday bias neutral first. But recovery should be limited below 128.49 support turned resistance to bring another fall.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 127.72; (P) 128.36; (R1) 128.70; More….

EUR/JPY drops to as low as 126.80 so far as the fall from 131.79 resumed after brief consolidation. The break of 127.13 support confirms our bearish view. That is corrective rebound from 124.61 has completed with three waves up to 131.97 already. Also, the larger fall from 137.49 could be resuming. Intraday bias is now on the downside for retesting 124.61 first. On the upside, above 127.63 minor resistance will turn intraday bias neutral first. But recovery should be limited below 128.49 support turned resistance to bring another fall.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 128.43; (P) 128.94; (R1) 129.33; More….

Intraday bias in EUR/JPY remains neutral at this point. Overall, we’re holding on to the view that corrective rebound from 124.61 could have completed with three waves up to 131.97 already. Break of 128.49 will extend the fall from 131.97 to 127.13 support for confirming this. Meanwhile, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of stronger than expected rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 128.76; (P) 129.00; (R1) 129.41; More….

Despite a rather strong rebound, upside was limited below 129.25 minor resistance. Intraday bias in EUR/JPY stays neutral first and deeper fall is expected. As noted before, rebound from 124.61 could have completed with three waves up to 131.97 already. Below 128.49 will target 127.13 support for confirmation. Overall, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of stronger than expected rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 128.51; (P) 128.69; (R1) 128.89; More….

A temporary low is in place at 128.49 with 4 hour MACD crossed above signal line. Intraday bias in EUR/JPY is turned neutral first. Upside of recovery should be limited by 129.52 minor resistance to bring another fall. Rebound from 124.61 could have completed with three waves up to 131.97 already. Below 128.49 will target 127.13 support for confirmation. Overall, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of strong rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 128.39; (P) 128.98; (R1) 129.32; More….

Intraday bias in EUR/JPY remains on the downside at this point. Rebound from 124.61 could have completed with three waves up to 131.97 already. Deeper fall would be seen for 127.13 support first. Decisive break there will bring retest of 124.61 low. On the upside, above 129.52 minor resistance will turn intraday bias neutral first. But near term outlook will remain cautiously bearish as long as 131.13 resistance holds.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

The rebound to 131.13 last week was brief. EUR/JPY drops sharply since then, through 129.10 support to close at 128.62. The development revives the case that corrective rebound from 124.61 has completed with three waves up to 131.97. Initial bias stays on the downside this week for 127.13 support first. Decisive break there will bring retest of 124.61 low. On the upside, above 129.52 minor resistance will turn intraday bias neutral first. But near term outlook will remain cautiously bearish as long as 131.13 resistance holds.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 129.83; (P) 129.63; (R1) 130.02; More….

EUR/JPY drops to as low as 128.72 so far today. The break of 129.10 indicates resumption of fall from 131.97. It also revives the case that corrective rise from 124.61 has completed with three waves up to 131.97. Intraday bias is now on the downside for 127.13 support first. Break there will pave the way to 124.61 low. ON the upside, break of 131.13 resistance is needed to confirm completion of the fall from 131.97. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.