Daily Pivots: (S1) 157.11; (P) 157.54; (R1) 158.02; More….

Intraday bias in EUR/JPY remains neutral for the moment and more sideway trading could be seen inside range of 156.85/159.75 first. On the downside, break of 156.85 will turn bias back to the downside for 55 D EMA (now at 156.29) and possibly below. On the upside, break of 159.75 will resume larger up trend instead.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 114.11; (P) 114.86; (R1) 115.29; More…..

Intraday bias in EUR/JPY remains on the downside at this point. Break of 100% projection of 122.87 to 116.12 from 121.14 at114.39 will pave the way to 161.8% projection at 100.21. On the upside, above 115.44 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 117.77 resistance holds, in case of recovery.

In the bigger picture, there is no clear indication of trend reversal yet, with the cross staying well inside falling channel. Fall from 137.49 (2018 high) is still in progress for 109.48 (2016 low). Also, in any case, outlook will remain bearish as long as 122.87 resistance holds, in case of another rebound.

Daily Pivots: (S1) 174.06; (P) 174.33; (R1) 174.70; More…

Intraday bias in EUR/JPY is back on the upside as recent up trend is trying to resistance. Sustained trading above 174.50 will target 138.2% projection of 164.01 to 170.87 from 167.52 at 177.00. On the downside, however, break of 173.50 minor support will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 170.7 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 133.65; (P) 134.20; (R1) 134.67; More….

Intraday bias in EUR/JPY remains on the upside at this point. Current up trend should target 136.53 projection level next. On the downside, though, break of 132.31 minor support will turn bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, up trend from 114.42 (2020 low) is in progress and resuming. Next target is 61.8% projection of 114.42 to 134.11 from 124.37 at 136.53, and then 137.49 (2018 high). In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.

Daily Pivots: (S1) 130.09; (P) 130.42; (R1) 130.75; More….

EUR/JPY lose upside momentum after hitting 130.73, as seen in 4 hour MACD. Intraday bias is turned neutral for the moment. Further rise is expected as long as 128.49 minor support holds. Above 130.73 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 128.49 will turn focus back to 127.13 support.

In the bigger picture, for now, EUR/JPY is holding above 124.08 key resistance turned support. Fall from 137.49 could be proven to be a correction. Decisive break of 133.47 resistance will confirm its completion and should extend the rise from 109.03 (2016 low) through 137.49 high. However, firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

Daily Pivots: (S1) 132.87; (P) 133.10; (R1) 133.29; More….

With 132.03 minor support intact, EUR/JPY’s recovery from 128.94 could extend higher. But after all, it’s seen as a corrective move. Therefore, we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside. Break of 132.03 will turn bias to the downside for retesting 128.94 low. However, sustained break of 134.22 will turn focus back to 137.49 high instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

EUR/JPY stayed in consolidation pattern between 124.44/127.07 last week. Initial bias stays neutral first and another rise remains in favor as long as 124.44 support holds. Firm break of 127.07 will resume larger rise from 114.42, to 128.67 fibonacci level. However, firm break of 124.44 should, at least, start the correction to such rise from 114.42, and turn bias to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.49 (2018 high). This will remain the preferred case for now, as long as 119.31 support holds.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Another rising leg could have started for 137.49 resistance.

Daily Pivots: (S1) 132.27; (P) 132.52; (R1) 132.95; More….

EUR/JPY’s strong rally suggests that rebound from 128.94 has resumed. Intraday bias is back on the upside for further rise. At this point, such rebound is still seen as a correction, hence, we’d expect strong resistance bring 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside. Break of 132.03 will turn bias to the downside for retesting 128.94 low. However, sustained break of 134.22 will turn focus back to 137.49 high instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 128.64; (P) 129.03; (R1) 129.70; More….

No change in EUR?JPY’s outlook. As long as 127.88 minor support holds, further rally is expected in EUR/JPY to resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. However, break of 127.88 will argue that the rebound from 124.89 has completed. In that case, intraday bias will be turned back to the downside for 124.61/89 support zone.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might now be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 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.

Daily Pivots: (S1) 138.78; (P) 139.59; (R1) 141.12; More….

EUR/JPY’s consolidation from 1 37.32 is still in progress and intraday bias stays neutral. On the downside, break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, break of 142.28 will turn bias back to the upside for retesting 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

Daily Pivots: (S1) 125.32; (P) 125.71; (R1) 126.06; More….

EUR/JPY’s decline is in progress and reaches as low as 125.52 so far. Intraday bias remains on the downside at this point. Current fall from 133.12 should target 124.08/89 support zone next. On the upside, break of 126.74 minor resistance will turn intraday bias neutral and bring consolidations first.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

Daily Pivots: (S1) 130.75; (P) 131.32; (R1) 131.97; More….

Intraday bias in EUR/JPY remains neutral at this point. Corrective rise from 129.34 might extend higher. But we’d be cautious on strong resistance from 38.2% retracement of 137.49 to 129.34 at 132.45 to limit upside. Break of 129.34 will resume the whole decline from 137.49 to 126.61 medium term fibonacci level. Nonetheless, sustained break of 132.45 will target 61.8% retracement at 134.37 first, before resuming the fall from 137.49.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. On the upside, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

EUR/JPY spiraled higher to 121.14 last week but failed to take out 121.39 resistance. Initial bias remains neutral this week first and outlook is unchanged. Consolidation from 115.86 could extend with another rise. On the upside, break of 121.39 will target 122.87 resistance. On the downside, sustained break of 115.86 will indicate larger down trend resumption.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). As long as 122.87 resistance holds, the down trend should resume sooner or later to 114.84 support next. However, sustained break of 122.87 will complete a double bottom (115.86, 116.12) which could indicate medium term bullish reversal.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Fall from 137.49 is seen as a falling leg inside the pattern. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA (now at 125.11), this is the preferred case.

Daily Pivots: (S1) 127.88; (P) 128.49; (R1) 128.96; More….

Intraday bias in EUR/JPY remains on the downside for 61.8% retracement of 124.89 to 130.86 at 127.17. The rebound from 124.89 might be completed at 130.86 already. Break of 127.17 will target a test on key support zone at 124.61/89. On the upside, though, break of 129.97 resistance will likely resume the rebound from 124.89 through 130.86.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 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.

Daily Pivots: (S1) 158.29; (P) 158.68; (R1) 159.10; More….

Intraday bias in EUR/JPY remains neutral at this point. Price actions from 159.47 are seen as a corrective pattern, and another decline cannot be ruled out. Break of 156.85 will target 55 D EMA (now at 155.98) and possibly below. Nevertheless, firm break of 159.47 will resume larger up trend instead.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 127.59; (P) 128.09; (R1) 128.73; More….

Intraday bias in EUR/JPY remains neutral at this point. On the upside, break of 130.33 resistance will confirm resumption of rise from 124.61. That will also revive the case of near term reversal and turn bias to the upside for 133.47 key resistance. On the downside, break of 126.63 will bring retest of 124.61 low instead.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

EUR/JPY rebounded further to as high as 129.96 last week but it’s limited below 130.33 resistance so far. Initial bias remains neutral first this week first. On the upside, break of 130.33 will resume the rebound from 124.61. And by then, EUR/JPY should have also taken out near term falling channel decisively. That would be a strong sign of trend reversal. In that case, further rise should be seen to 133.47 resistance for confirmation. On the downside, below 128.49 minor support will turn bias to the downside for 127.13 support. Break will target a test on 124.61 low.

In the bigger picture, for now, EUR/JPY is holding above 124.08 key resistance turned support. Fall from 137.49 could be proven to be a correction. Decisive break of 133.47 resistance will confirm its completion and should extend the rise from 109.03 (2016 low) through 137.49 high. However, firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 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) 141.97; (P) 143.08; (R1) 143.80; More….

With a temporary top formed at 144.23, intraday bias in EUR/JPY is turned neutral for consolidations. Downside of retreat should be contained by 139.99 resistance turned support to bring rebound. On the upside, break of 144.23 will resumer larger up trend to 100% projection of 124.37 to 139.99 from 132.63 at 148.25.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Such rise is seen as the third leg of the pattern from 109.30 (2016 low). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. Firm break there will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will now remain bullish as long as 132.63 support holds, in case of deep pull back.

EUR/JPY’s up trend continued to as high as 164.29 last week but retreated since then. Initial bias stays neutral this week first, and some more consolidations could be seen. Downside of retreat should be contained well above 159.75 resistance turned support to bring another rally. On the upside, break of 164.29 will resume larger up trend to 61.8% projection of 139.05 to 159.75 from 154.32 at 167.11.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 169.96 (2008 high). On the downside, break of 159.75 resistance turned support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

In the long term picture, rise from 109.03 (2016 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). Next target is 100% projection of 94.11 to 149.76 from 114.42 at 170.07 which is close to 169.96 (2008 high).

Daily Pivots: (S1) 130.36; (P) 130.85; (R1) 131.12; More….

EUR/JPY’s is staying in range of 129.22/131.36 and intraday bias remains neutral first. With 131.36 resistance intact, outlook remains bearish and further decline is expected. Break of 1.29.22 will target 128.94 first. Break will resume whole fall from 137.49 and target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18, and possibly further to 126.61 medium term fibonacci level. Nonetheless, break of 131.36 will dampen our bearish view and turn focus back to 133.47 resistance instead.

In the bigger picture, for now, price actions from 137.49 are viewed as a corrective pattern only. Hence, while deeper decline would be seen, strong support is expected at 38.2% retracement of 109.03 to 137.49 at 126.61 to contain downside and bring rebound. Up trend from 109.03 (2016 low) is expected to resume afterwards. Though, sustained break of 126.61 will be an important sign of trend reversal and will turn focus to 124.08 resistance turned support.