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.

Daily Pivots: (S1) 131.45; (P) 131.98; (R1) 133.04; More….

EUR/JPY’s rally extends to as high as 133.05 so far today and intraday bias stays on the upside. Break of key fibonacci resistance at 132.56 should confirmed that correction from 137.49 has completed. Further rally should be seen to retest this high. On the downside, below 132.22 minor support will turn intraday bias neutral to bring consolidation. But downside should be contained by 130.86 resistance turned support to bring another rally.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

EUR/JPY stayed in range above 118.37 last week and outlook is unchanged. With 121.39 resistance intact, further decline is still expected. Break of 118.37 will resume the fall from 122.87 to 100% projection of 122.87 to 118.46 from 121.39 at 116.98 next. However, firm break of 121.39 will revive near term bullishness and bring retest of 122.87 resistance first.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). It was also just rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 114.84 support next.

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 125.13), this is the preferred case.

Daily Pivots: (S1) 130.50; (P) 130.75; (R1) 131.18; More….

EUR/JPY rebounds strongly but stays below 131.36 resistance Outlook remains bearish and further decline is expected. Break of 129.22 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.

Daily Pivots: (S1) 137.78; (P) 138.42; (R1) 138.86; More….

Intraday bias in EUR/JPY stays on the downside at this point. An important top might be formed at 144.26 after rejection by 144.06 long term fibonacci level. Deeper fall would be seen to 132.63 support for confirmation. On the upside, above 139.78 minor resistance will turn intraday bias neutral first.

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). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will remain bullish as long as 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 132.05; (P) 132.40; (R1) 132.71; More….

EUR/JPY is staying in consolidation below 132.96 and intraday bias remains neutral. In case of another retreat, downside should be contained by 131.09 minor support to bring rebound resumption. Above 132.96 will extend the rebound from 128.94 to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low 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) 130.14; (P) 130.41; (R1) 130.83; More….

EUR/JPY’s rebound from 129.22 short term bottom extends higher to as high as 131.02 so far. With 4 hour 55 EMA taken out, intraday bias is on the upside for further rise to 55 day EMA (now at 131.62). Nonetheless, we’d expect strong resistance below 133.47 resistance to bring fall resumption. Below 129.99 minor support will turn bias back to the downside for 128.94. Break will resume the corrective fall from 137.49 and target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18 next.

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.

Daily Pivots: (S1) 131.96; (P) 132.14; (R1) 132.49; More….

Intraday bias bias in EUR/JPY remains neutral for consolidation below 132.89 temporary top. For now, downside of retreat should be contained by 131.09 minor support to bring another rise. Above 132.89 will extend the rebound from 128.94 to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low 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) 129.17; (P) 129.37; (R1) 129.62; More….

No change in EUR/JPY’s outlook. With 130.25 minor resistance intact, deeper decline is expected to 127.13 support. The rebound from 124.61 should have completed with three waves up to 131.97 already. Break of 127.13 will confirm this bearish case and target a test on 124.61 low. On the upside, though, above 130.25 will bring retest of 131.97 instead.

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.

EUR/JPY recovered after dipping to 130.03 last week and initial bias stays neutral this week first. Corrective pattern from 134.11 is seen as extending with another falling leg. Break of 130.03 will bring deeper fall to 128.23 support first. Break will target 127.36 support and below. On the upside, however, break of 133.13 will bring retest of 134.11 high.

In the bigger picture, price actions from 134.11 are currently seen as a consolidation pattern only. As long as 38.2% retracement of 114.42 (2020 low) to 134.11 at 126.58 holds, up trend from 114.42 is still in favor to continue. Break of 134.11 will target long term resistance at 137.49 (2018 high). However, sustained break of 126.58 will raise the chance of bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Long term outlook will remain neutral until breakout from the range of 109.03/137.49.

EUR/JPY’s consolidation from 133.12 continued last week but downside was contained above 130.86 resistance turned support so far. Initial bias stays neutral this week first, and further rise remains in favor. On the upside, above 133.12 will target 100% projection of 124.89 to 130.86 from 127.85 at 133.82 first. Break will target 137.49 high. However, firm break of 130.86 will turn focus back to 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

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) 157.58; (P) 157.91; (R1) 158.50; More….

EUR/JPY is still extending the sideway consolidation pattern and intraday bias remains neutral. On the downside, break of 156.85 will turn bias back to the downside for 55 D EMA (now at 156.36) 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) 120.20; (P) 120.80; (R1) 121.50; More….

Intraday bias in EUR/JPY on the upside for the moment. Rise from 118.46 should target 122.87 resistance next. Break will resume whole rise from 115.86 low. On the downside, though, break of 120.09 minor support will turn bias to the downside for retesting 118.46 low instead.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). It was also just rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 114.84 support next.

Daily Pivots: (S1) 116.35; (P) 117.09; (R1) 117.54; More….

EUR/JPY’s decline resumed by taking 116.56 and intraday bias back on the downside. Current fall should target 114.84 medium term support next. On the upside, break of 117.91 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

EUR/JPY reversed after hitting 133.13 and dropped sharply from there. The development suggests that corrective pattern from 134.11 is extending with another falling leg. Initial bias stays on the downside this week for 128.23 support. Break will target 127.36 and below. On the upside break of 133.13 will bring retest of 134.11 high.

In the bigger picture, price actions from 134.11 are currently seen as a consolidation pattern only. As long as 38.2% retracement of 114.42 (2020 low) to 134.11 at 126.58 holds, up trend from 114.42 is still in favor to continue. Break of 134.11 will target long term resistance at 137.49 (2018 high). However, sustained break of 126.58 will raise the chance of bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Long term outlook will remain neutral until breakout from the range of 109.03/137.49.

EUR/JPY’s pull back was contained by 156.85 support last week. Initial bias stays neutral this week first, and more sideway trading could be seen. On the upside, break of 159.75 will resume larger up trend to 163.06 projection target. However, break of 156.85, and sustained trading below 55 D EMA (now at 156.47) will argue that it’s already in a larger scale correction. Deeper fall would then be seen towards 151.39 key 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 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.

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).

EUR/JPY’s up trend resumed last week and surged to 165.33. But as a temporary top was formed with subsequent retreat, initial bias stays neutral this week for more consolidations. Downside should be contained by 55 4H EMA (now at 163.23) to bring rebound. On the upside, break of 165.33 will resume larger up trend to 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71.

In the bigger picture, current rally is part of the up trend from 114.42 (2020 low), which is still in progress. Next target is 169.96 (2008 high). Break of 160.20 support is needed to be the first sign of medium term topping. Otherwise, outlook will stay bullish in case of retreat.

In the long term picture, rise from 114.42 (2020 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). This will remain the favored case as long as 153.15 support holds.

Daily Pivots: (S1) 115.47; (P) 116.16; (R1) 116.67; More….

Intraday bias in EUR/JPY remains on the downside at this point. Sustained trading below 115.86 low will confirm larger down trend resumption. Next near term target will be 100% projection of 121.14 to 116.33 from 119.00 at 114.19. On the upside, however, break of 117.21 minor resistance will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high), as well as below falling 55 week EMA. As long as 122.87 resistance holds, the down trend form 137.49 should extend to 109.48 (2016 low). However, sustained break of 122.87 will indicate medium term bullish reversal.

Daily Pivots: (S1) 130.83; (P) 131.15; (R1) 131.66; More….

As long as 129.90 minor support holds, further rally is expected in EUR/JPY. Current rise from 124.61 should target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 129.90 will indicate short term topping and turn focus back to 127.13 support 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.

Daily Pivots: (S1) 129.88; (P) 130.39; (R1) 130.71; More….

EUR/JPY rebounds strongly ahead of 129.34 low and a temporary bottom is formed at 129.59. Intraday bias is turned neutral first. Consolidation from 129.34 might extend with another up-leg. But upside should be limited by 38.2% retracement of 137.49 to 129.34 at 132.45 to bring fall resumption eventually. On the downside, decisive break of 129.34 will confirm resumption of whole fall 137.49 and target 126.61 medium term fibonacci level.

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.