Daily Pivots: (S1) 141.31; (P) 141.69; (R1) 142.38; More….

Intraday bias in EUR/JPY remains on the upside. Firm break of 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28 will extend the current up trend to 100% projection at 148.25 next. On the downside, below 139.82 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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.

Daily Pivots: (S1) 120.49; (P) 120.75; (R1) 120.99; More….

EUR/JPY’s break of 120.41 minor support suggests that rebound from 119.24 has completed. Intraday bias is turned to the downside for another fall. But overall, near term outlook will remain bullish as long as 119.11 support holds. Larger rise from 115.86 is still in favor to resume through 121.46 at a later stage.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. In case of another rise, strong resistance should be seen from falling channel resistance (now at 125.14) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

Daily Pivots: (S1) 133.31; (P) 134.57; (R1) 135.33; More….

EUR/JPY’s fall resumed after brief recovery and intraday bias is back on the downside. As noted before, near term trend is likely reversed considering bearish divergence condition in daily MACD. Deeper fall should be seen to 132.04 cluster support first (23.6% retracement of 114.84 to 137.49 at 132.14). Decisive break there will indicate larger reversal. However, above 135.83 minor resistance will turn focus back to 137.49 resistance instead.

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). It should be targeting 141.04/149.76 resistance zone. On the downside, break of 132.04 support, however, will be an early sign of trend reversal and will bring deeper fall back to 124.08 key medium term support.

Daily Pivots: (S1) 127.41; (P) 127.83; (R1) 128.14; More….

EUR/JPY is staying in consolidation from 128.44 temporary top and intraday bias remains neutral. Deeper retreat cannot be ruled out. But downside should be contained well above 125.07 support to bring another rally. On the upside, sustained break of 128.67 long term fibonacci level will confirm medium term upside momentum, and target 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 125.07 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will indicate solid upside momentum and target 137.49 next. This will remain the favored case as long as 125.07 support holds.

Daily Pivots: (S1) 132.75; (P) 133.12; (R1) 133.79; More…

EUR/JPY is staying in consolidation in range of 131.73/134.39 and intraday bias remains neutral at this point. 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, 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 reversal and will turn outlook bearish for deeper fall.

Daily Pivots: (S1) 130.31; (P) 131.09; (R1) 131.55; More….

Intraday bias in EUR/JPY remains on the downside for 130.02 support. Break there will resume the whole correction from 121.63 towards 38.2% retracement of 121.63 to 134.11 at 129.34. Strong support should be seen there to bring rebound. On the upside, above 131.26 support turned resistance will turn intraday bias neutral first.

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) 126.67; (P) 126.95; (R1) 127.20; More….

Intraday bias in EUR/JPY remains mildly on the upside for the moment. Rise from 114.42 is resuming for 128.67 medium term fibonacci level. On the downside, however, break of 126.04 support will indicate rejection by 127.07. Intraday bias will be turned back to the downside, to extend the consolidation from 127.07 with another leg.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 121.63 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 126.23; (P) 126.59; (R1) 127.14; More….

EUR/JPY’s break of 127.07 resistance suggests resumption of whole rise from 114.42. Intraday bias is back on the upside. Further rise should be seen to 128.67 medium term fibonacci level. On the downside, however, break of 126.04 support will indicate rejection by 127.07. Intraday bias will be turned back to the downside, to extend the consolidation from 127.07 with another leg.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 121.63 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 128.42; (P) 129.19; (R1) 129.59; More….

Intraday bias in EUR/JPY is mildly on the downside as fall from 139,45 extends through 129.36 minor support. Deeper fall would be seen to retest 127.91 support. Firm break there will resume larger fall from 134.11 to 127.07 resistance turned support next. On the upside, though, break of 130.73 resistance will argue that correction from 134.11 has completed and turn near term outlook bullish for retesting this high.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. As long as 127.07 resistance turned support holds, further rise is still expected to retest 137.49 (2018 high). However, firm break of 127.07 will argue that the medium term trend has reversed, deeper fall would be seen to 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 134.63; (P) 136.08; (R1) 136.82; More….

EUR/JPY’s pull back from 139.99 is still in progress and deeper fall could be seen to 38.2% retracement of 124.37 to 139.99 at 134.02. Downside should be contained there to bring rebound. On the upside, above 137.52 minor resistance will bring retest of 139.99 resistance first. However, firm break of 134.02 will bring deeper decline to 61.8% retracement at 130.33.

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. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.

Daily Pivots: (S1) 127.80; (P) 128.24; (R1) 128.89; More….

No change in EUR/JPY’s outlook. We’d continue to expect strong resistance from 128.94 support turned resistance to limit upside to complete the rebound from 124.61. Break of 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD and firm break of the medium term channel support. Focus is now on 124.08 resistance turned support. Decisive break there will confirm this bearish case and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

Daily Pivots: (S1) 115.16; (P) 115.59; (R1) 116.35; More…

EUR/JPY formed a temporary low at 114.84 after hitting 61.8% retracement of 109.20 to 124.08 at 114.88. Intraday bias is turned neutral for consolidations. Upside of recovery should be limited by 118.23 support turned resistance and bring another decline. Corrective rise from 109.20 has completed at 124.08. Below 114.84 will turn bias back to the downside for retesting 109.20 low.

In the bigger picture, medium term corrective rise from 109.20 should have completed at 124.08, ahead of 126.09 support turned resistance. Medium term down trend from 149.76 is likely resuming. Break of 109.20 will target 94.11 low. In any case, break of 126.09 is needed needed to confirm medium term reversal. Otherwise, outlook will remain bearish in case of another rebound.

Daily Pivots: (S1) 128.76; (P) 129.19; (R1) 129.82; More….

EUR/JPY is sting in range below 130.33 resistance and intraday bias remains neutral for the moment. 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, break of 127.13 will bring retest of 124.61 low instead.

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.

EUR/JPY’s rebound from 115.86 short term bottom extended higher last week and initial bias remains on the upside. Next target is 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

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, this is the preferred case.

Daily Pivots: (S1) 123.27; (P) 123.55; (R1) 124.06; More….

EUR/JPY’s break of 123.66 minor resistance argue that pull back from 125.13 has completed. Intraday bias is turned back to the upside for 125.13 resistance. Decisive break there will revive the case that correction from 127.07 has completed. Further rally would be seen back to retest this high. On the downside, though, break of 122.84 will turn bias back to the downside for 121.63 support instead.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 122.11; (P) 122.60; (R1) 123.05; More….

Intraday bias in EUR/JPY remains neutral and more consolidation could be seen. In case of another recovery, upside should be limited by 124.09 support turned resistance to bring fall resumption. On the downside, break of 122.08 will target a test on 118.62 low. Nevertheless, firm break of 124.09 will at least bring stronger rebound back to 125.23 resistance and above.

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) 129.83; (P) 130.47; (R1) 130.91; More….

EUR/JPY dips notably after hitting 131.13 and intraday bias is turned back to the downside for 129.10 support. Break will extend the fall from 131.97 and target 127.13 support. On the upside, above 131.13 will likely resume the rebound from 124.61 thorugh 131.97.

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.

Daily Pivots: (S1) 158.46; (P) 158.83; (R1) 159.59; More…

EUR/JPY recovered quickly after dipping to 158.06. Some support is seen from 158.55 resistance turned support and rising channel for now. Intraday bias stays neutral first. On the downside, sustained break of 158.55 will argue that rebound from 153.15 has completed at 161.84 already. Fall from there is then seen as the third leg of the pattern from 164.29 high. Intraday bias will be turned back to the downside for 155.06 support next. On the upside, above 160.25 minor resistance will retain near term bullishness, and bring retest of 161.84.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 only. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage.

Daily Pivots: (S1) 160.82; (P) 161.82; (R1) 163.07; More…

EUR/JPY recovered after dipping to 160.54 and intraday bias is turned neutral first. On the downside, below 160.54 will resume the fall from 163.70 to 38.2% retracement of 153.15 to 163.70 at 159.66. Sustained break there will indicate that fall from 163.70 is reversing whole rise from 153.13, and target 61.8% retracement at 157.18. On the upside, sustained break of 55 4H MACD (now at 162.46) will retain near term bullishness, and bring retest of 163.70.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 which could still be extending. As long as 148.38 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage. Next target would be 169.96 (2008 high).

Daily Pivots: (S1) 131.97; (P) 132.60; (R1) 132.93; More….

No change in EUR/JPY’s outlook. EUR/JPY’s recovery from 128.94 might still extend. 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.