Daily Pivots: (S1) 132.84; (P) 133.37; (R1) 134.19; More….

EUR/JPY is still bounded in range below 134.48 and intraday bias remains neutral. As long as 131.16 support holds, further rise is mildly in favor. Decisive break of 134.48 will resume medium term rise from 114.84 and target 141.04 resistance next. However, sustained break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). Sustained break of 61.8% retracement of 149.76 to 109.03 at 134.20 will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 147.13; (P) 147.43; (R1) 147.90; More….

Intraday bias in EUR/JPY remains neutral for the moment, as consolidation from 148.38 is extending. Deeper retreat could be seen but downside should be contained by 140.88/144.06 support zone to bring another rally. Break of 148.38 will resume larger up trend to 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.76 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

Daily Pivots: (S1) 129.98; (P) 130.54; (R1) 130.85; More….

EUR/JPY drops notably after rejection by 131.02 resistance and 4 hour 55 EMA. But downside stays above 129.60 support. Intraday bias remains neutral first. On the upside, firm break of 131.02 resistance will argue that corrective fall from 134.11 might have completed with three waves down to 129.60 already, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for 132.68 resistance and above. On the downside, break of 129.60 will resume the the correction. But we’d expect strong support from 38.2% retracement of 121.63 to 134.11 at 129.34 to bring rebound.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Next target is 137.49 (2018 high). Decisive break there will open up the possibility that it’s indeed resuming the up trend from 94.11 (2012 low). For now, outlook will stay bullish as long as 127.07 resistance turned support holds, in case of pull back.

Daily Pivots: (S1) 123.05; (P) 123.29; (R1) 123.46; More…

EUR/JPY’s decline extends to as low as 122.48 so far far. Intraday bias remains on the downside for the moment. As noted before, rebound form 118.62 has completed at 127.50 already. Further fall should be seen to retest this low. On the upside, above 123.52 minor resistance will turn intraday bias neutral first. But recovery should be limited by 124.09/125.29 resistance zone to bring fall resumption.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

Daily Pivots: (S1) 120.11; (P) 120.27; (R1) 120.46; More….

EUR/JPY is still staying in consolidation from 121.46 and intraday bias remains neutral first. More sideway trading could be seen. In case of deeper fall, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance next.

In the bigger picture, current development argues that a medium term bottom is formed at 115.86, on bullish convergence condition in daily MACD, ahead of 114.84 support. Decisive of 120.78 support turned resistance will affirm this case and bring further rise to falling channel resistance (now at 125.38). Reactions from there would decide whether the medium term trend has reversed. For now, further rise is expected as long as 117.07 support holds.

Daily Pivots: (S1) 121.76; (P) 122.21; (R1) 122.76; More…

Intraday bias in EUR/JPY stays neutral as consolidation from 124.08 extends. Rebound from 109.20 is not finished yet. Break of 124.08 will extend such rise and target 126.09 key resistance next. Meanwhile, below 120.54 will target 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). We’d expect strong support from there to contain downside.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. There is prospect of another rise towards 126.09 key resistance level before completion. But even in that case, we’d expect strong resistance between 126.09 and 141.04 to limit upside, at least on first attempt. Sustained trading below 55 day EMA will pave the way to retest 109.20.

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Daily Pivots: (S1) 140.75; (P) 141.61; (R1) 142.46; More….

Intraday bias in EUR/JPY is turned neutral with today’s recovery. But further decline is expected as long as 146.12 resistance holds. Break of 140.75 will resume the fall from 148.38 to 100% projection of 148.38 to 142.54 from 146.12 at 140.28. Firm break there could prompt downside acceleration to 161.8% projection at 136.67 next.

In the bigger picture, considering bearish divergence condition in weekly MACD, 148.38 could be a medium term top already. Fall from there is probably correcting whole up trend from 114.42 (2020 low). Deeper decline would be seen to 55 week EMA (now at 137.37), or further to 38.2% retracement of 114.42 to 148.38 at 135.40 before completion.

Daily Pivots: (S1) 149.07; (P) 149.55; (R1) 150.45; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. On the downside, below 148.58 will extend the corrective pattern from 151.60 with another falling leg. Deeper fall would be seen to 146.12 support and possibly below. On the upside, however, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 139.05 support holds, even in case of deep pull back.

Daily Pivots: (S1) 157.06; (P) 157.49; (R1) 157.73; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. Some consolidations would be seen first. But further rally is expected as long as 154.03 support holds. Break of 157.99 will resume larger up trend to 162.82 projection level. However, break of 154.03 will argue that larger correction is under way back to 151.60 resistance turned support.

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 138.81 at 162.82. For now, medium term outlook will remain bullish as long as 151.60 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 132.66; (P) 132.90; (R1) 133.24; More….

Intraday bias in EUR/JPY remains neutral for the moment.On the downside, decisive break of 131.65 will confirm rejection from 134.20 fibonacci level. That will also complete and double top pattern (134.39, 134.48) and confirms near term reversal. 55 day EMA will also be firmly taken out. In that case, deeper decline should be seen back to 127.55 key support. On the upside, decisive break of 134.39/48 resistance zone is needed to confirm up trend resumption. Otherwise, even in case of rebound, near term outlook is neutral at best.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will argue that the medium term trend has reversed and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 169.14; (P) 169.79; (R1) 170.52; More…

Intraday bias in EUR/JPY remains on the downside at this point. Fall from 170.78 will target 167.31 support first. Firm break there will confirm that corrective pattern from 171.58 has started the third leg, and target 164.01 support next. For now, risk will stay on the downside as long as 170.78 resistance holds, in case of recovery.

In the bigger picture, a medium top could be formed at 171.58 after brief breach of 169.96 (2008 high). As long as 55 W EMA (now at 159.10) holds, price actions from there is seen as correcting the rise from 153.15 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 153.15 support.

Daily Pivots: (S1) 148.46; (P) 148.86; (R1) 149.65; More….

Intraday bias in EUR/JPY remains neutral first. Firm break of 149.25 resistance will argue that pull back from 151.60 has completed at 146.12 already. Stronger rally should be seen back to retest 151.60. On the downside, however, break of 146.12 will resume the fall to 61.8% retracement of 139.05 to 151.60 at 143.84.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 139.05 support holds, even in case of deep pull back.

Daily Pivots: (S1) 131.96; (P) 132.51; (R1) 132.83; More…

Intraday bias in EUR/JPY remains neutral for consolidative trading below 134.39 high. Near term outlook remains bullish as long as 131.69 holds. Sustained break of 134.20 fibonacci level will extend larger up trend to 141.04 resistance next. However, break of 131.69 will be an early sign of medium term reversal and will target 127.55 key support level instead.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. On the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

Daily Pivots: (S1) 143.34; (P) 144.34; (R1) 145.17; More….

Intraday bias in EUR/JPY is turned neutral again with current retreat. Outlook is unchanged that correction from 148.38 could have completed at 140.75. Above 145.33 will target 146.12 resistance first. Firm break there will bring retest of 148.38 high. On the downside, however, break of 143.16 minor resistance will dampen this bullish case and turn intraday bias back to the downside for 140.75.

In the bigger picture, considering bearish divergence condition in weekly MACD, 148.38 could be a medium term top already. Fall from there is probably correcting whole up trend from 114.42 (2020 low). Deeper decline would be seen to 55 week EMA (now at 138.08), or further to 38.2% retracement of 114.42 to 148.38 at 135.40 before completion.

Daily Pivots: (S1) 144.22; (P) 144.69; (R1) 145.57; More….

Range trading continues in EUR/JPY and intraday bias remains neutral at this point. On the upside, break of 145.66 will resume recent rebound from 137.37. Further rally should then be seen to retest 148.38 high. On the downside, break of 142.53 will target 138.83 support instead.

In the bigger picture, as long as 55 week EMA (now at 139.78) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, sustained break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Decisive break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 123.55; (P) 124.04; (R1) 124.45; More…

No change in EUR/JPY’s outlook despite diminishing upside moment as seen in 4 hour MACD. Further rally is expected with 122.92 minor support intact. Firm break of 124.08 resistance will confirm resumption of whole rise from 109.20. In that case, EUR/JPY would target 126.09 resistance first. Break there will pave the way to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. On the downside, below 122.92 minor support will turn bias to the downside and bring pull back.

In the bigger picture, focus is back on 126.09 support turned resistance. Decisive break there will confirm completion of the down trend from 149.76. And in such case, rise from 109.20 is at the same degree and should target 141.04 resistance and above. Meanwhile, rejection from 126.09 and break of 114.84 will extend the fall from 149.76 through 109.20 low.

Daily Pivots: (S1) 124.66; (P) 124.86; (R1) 125.12; More….

Intraday bias in EUR/JPY remains mildly on the upside for the moment. Rebounds from 118.62 is in progress for 55 day EMA (now at 126.2). On the downside, break of 123.78 support is now needed to indicate completion of rebound from 118.62. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is possibly just the second leg of the corrective pattern from 109.03. Break of 133.12 resistance should start the third leg to 137.49 and above. Nevertheless, break of 118.62 will resume the decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 148.68; (P) 149.53; (R1) 149.99; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 151.60 is extending. Downside should be contained by 146.85 support to bring another rally. Break of 151.60 will resume larger up trend to 153.64 projection level. Nevertheless, firm break of 146.85 will confirm short term topping and turn bias to the downside for deeper pull back.

In the bigger picture, current development indicates that rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 138.81 support holds, even in case of deep pull back.

Daily Pivots: (S1) 122.04; (P) 122.69; (R1) 123.03; More….

EUR/JPY is staying in consolidation from 120.78 and intraday bias remains neutral first. Another rise cannot be ruled out. But upside should be limited by 123.73 resistance to bring larger fall resumption. On the downside, below 121.65 minor support will turn bias to the downside for 120.78 low. Decisive break there will resume the decline from 127.50 and target 118.62 low next.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 128.33; (P) 129.02; (R1) 130.00; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. With break of 55 day EMA, the corrective pattern from 134.11 might have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone. This will now be the mildly favored case as long as 127.40 minor support holds. Nevertheless, break of 127.40 will bring retest of 124.37 instead.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.