Daily Pivots: (S1) 149.39; (P) 149.67; (R1) 150.16; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, below 148.58 temporary low 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) 159.58; (P) 160.28; (R1) 160.85; More…

EUR/JPY’s retreat from 161.84 is extending and intraday bias remains neutral first. With 158.55 resistance turned support intact, further rally is in favor. On the upside, break of 161.84 will resume whole rise from 153.15 to 161.8% projection of 153.15 to 158.55 from 155.06 at 163.79, which is close to 164.29 high.

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) 123.87; (P) 124.22; (R1) 124.53; More….

EUR/JPY’s rebound lost momentum after hitting 124.57, below 125.13 resistance. Intraday bias is turned neutral again. On the upside, firm break of 125.13 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) 129.65; (P) 129.96; (R1) 130.29; More….

Intraday bias in EUR/JPY remains neutral at this point. On the downside, break of 129.60 will resume the corrective decline from 134.11. We’d look for strong support from 38.2% retracement of 121.63 to 134.11 at 129.34 to bring rebound. On the upside, break of 131.07 resistance will indicate short term bottoming, and bring stronger rebound back to 132.68 resistance first. However, firm break of 129.34 will bring deeper fall back to 127.07 resistance turned support.

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.

Despite recovering to 129.62, EUR/JPY’s subsequent sharp fall retains near term bearishness. Initial bias is now on the downside this week for 127.36 support first. Break there will resume larger pattern from 134.11 and target 126.58 medium term fibonacci level. On the upside, above 129.62 will turn bias back to the upside to bring another rebound.

In the bigger picture, 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 medium term 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.

Daily Pivots: (S1) 146.91; (P) 147.38; (R1) 147.73; More….

A temporary top is in place at 147.85 in EUR/JPY ahead of 148.38 high. Intraday bias is turned neutral first. Further rally will remain mildly in favor as long as 145.66 resistance turned support holds. Decisive break of 148.38 will resume larger up trend to 149.75 long term resistance. However, firm break of 145.66 will indicate that corrective pattern from 148.38 has started the third leg. Intraday bias will be back on the downside for 142.53 support first and possibly below.

In the bigger picture, as long as 55 W EMA (now at 140.44) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. Decisive break there will resume long term up trend. However, sustained break of 55 W EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40.

Daily Pivots: (S1) 127.56; (P) 127.97; (R1) 128.39; More….

EUR/JPY breached 127.49 support briefly but recovered. Intraday bias remains neutral first. On the downside, firm break of 127.49 support will resume the fall from 130.14 and target 126.63 support first. Break there will then resume the whole decline from 133.12 to 124.08/89 support zone. Overall, consolidation from 126.63 could still extend. But even in case of another strong recovery, outlook will stay bearish as long as 130.14 resistance holds.

In the bigger picture, 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) 129.61; (P) 129.89; (R1) 130.19; More….

Intraday bias in EUR/JPY remains on the upside for the moment. Rebound from 127.91 short term bottom is in progress for 130.54 resistance. Sustained break there will argue that whole correction from 134.11 has completed and turn near term outlook bullish. Nevertheless, on the downside, below 129.14 minor support will turn bias back to the downside for retesting 127.91 low instead.

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) 126.22; (P) 126.50; (R1) 126.66; More….

EUR/JPY’s sharp fall today suggests that rebound from 124.27 has completed at 126.78. Deeper decline might now be seen as consolidation from 127.50 extends. But after all, near term outlook will remain bullish as long as 124.23 cluster support (38.2% retracement of 118.62 to 127.50 at 124.10) holds. On the upside, decisive break of 127.50 will resume whole rise from 118.62 and target 129.50 resistance next.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed with three waves down to 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case. And in such case, the down trend from 137.49 could possibly resume through 118.62.

Daily Pivots: (S1) 116.52; (P) 116.91; (R1) 117.37; More…

Intraday bias in EUR/JPY remains on the upside for 122.88 resistance. As noted before, corrective fall from 124.08 has completed at 114.84 already. Break of 122.88 will likely extend the larger rise from 109.20 through 124.08 resistance to 126.09 key resistance level. On the downside, though, 117.81 minor support will turn focus back to 114.84 low instead.

In the bigger picture, price actions from 109.20 is still seen as a corrective move for the moment. But current development suggests that the first leg is finished at 109.20, second leg at 114.84. And rise from 114.84 is possibly developing into the third leg. Further rise will now be mildly in favor through 124.08 resistance. Strong break of 126.09 support turned resistance will confirm completion of whole fall from 149.76 at 109.20. In such case, rise from 109.20 is developing into a medium term move for 141.04 and above.

Daily Pivots: (S1) 126.05; (P) 126.31; (R1) 126.56; More….

EUR/JPY is remaining in consolidation from 127.22 and intraday bias stays neutral first. Further rise is mildly in favor as long as 125.92 support holds. Break of 127.22 will resume whole rise from 114.42 for 128.67 medium term fibonacci level. However, firm break of 125.92 will indicate rejection by 127.07 resistance. 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) 123.06; (P) 124.22; (R1) 124.82; More…

The sharp fall from 125.80 suggests short term topping in EUR/JPY, ahead of 126.09 key resistance, on bearish divergence condition in 4 hour MACD. Deeper pull back is now mildly in favor back to 38.2% retracement of 114.84 to 125.80 at 121.61 and possibly below. But overall, we’re still staying mildly bullish in the cross and expect another rise. Break of 126.09 will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89.

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) 126.15; (P) 126.41; (R1) 126.63; More….

EUR/JPY’s fall from 127.50 extends to as low as 124.27 so far today. Focus is now immediately on 124.23 cluster support 38.2% retracement of 118.62 to 127.50 at 124.10). Decisive break there should confirm completion of whole rebound from 118.61. Deeper fall should at least be seen to 61.8% retracement at 122.01. In this case, the chance of resuming larger down trend will also increase. On the upside, though, break of 125.34 minor resistance after defending 124.10/23 will retain near term bullishness. Intraday bias will be turned back to the upside for retesting 127.50 first.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed with three waves down to 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case. And in such case, the down trend from 137.49 could possibly resume through 118.62.

Daily Pivots: (S1) 121.85; (P) 122.17; (R1) 122.74; More….

EUR/JPY is still staying below 122.65 resistance and intraday bias remains neutral first. Consolidation might extend but downside should be contained above 119.99 support to bring another rally. On the upside, break of 122.65 will target 123.35 resistance first. Break will target key channel resistance (now at 124.33).

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.72) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 141.80; (P) 142.28; (R1) 143.17; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, decisive break of 144.23 will resume larger up trend. On the downside, below 141.39 minor support will bring deeper fall, to extend the corrective pattern from 144.23.

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 now remain bullish as long as 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 120.69; (P) 120.87; (R1) 121.17; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. Another pull back cannot be ruled out. But downside should be contained above 191.11 support to bring another rally. On the upside, break of 121.46 will resume the rise from 115.86 to 161.8% projection of 115.86 to 120.01 from 117.07 at 123.78 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 125.82). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.

Daily Pivots: (S1) 131.95; (P) 132.17; (R1) 132.49; More….

We’re holding on to the view that corrective rebound from 128.94 has completed at 133.47 already. Deeper decline should be seen back to retest 128.94 low. Break there will resume whole decline from 137.49. On the upside, above 133.47 will extend the rebound. But we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside and bring near term reversal eventually.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. The first leg has completed at 128.94. The second leg might be finished at 133.47 or it might extend. But after all, we’d expect another decline through 128.94 to 38.2% retracement of 109.03 to 137.49 at 126.61 before completing the correction.

Daily Pivots: (S1) 131.36; (P) 131.91; (R1) 132.66; More….

Despite breaking 131.38 to 131.15, EUR/JPY quickly recovered. Intraday bias is turned neutral first. A short term top is at least in place at 134.48 after hitting 134.20 long term fibonacci level. For now, deeper fall will be in favor towards 38.2% retracement of 114.84 to 134.48 at 126.97, which is close to 127.55 support. We’ll look for support from there to bring rebound on first attempt. In any case, firm break of 134.48 is needed to confirm up trend resumption. Otherwise, near term risks remain on the downside.

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) 144.14; (P) 144.59; (R1) 144.88; More….

Intraday bias in EUR/JPY remains neutral for the moment. Further rally is expected as long as 142.13 support holds. Corrective fall from 148.38 has completed at 137.37 already. Break of 145.55 will resume the rise from 137.37 to 146.71 resistance and then 148.38 high.

In the bigger picture, as long as 55 week EMA (now at 139.42) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, firm break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Sustained break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 119.41; (P) 119.82; (R1) 120.51; More….

EUR/JPY’s rise resumed after brief consolidations and intraday bias is back on the upside. Current rise from 115.86 should target 100% projection of 115.86 to 120.01 from 117.07 at 121.16 first. On the downside, break of 119.11 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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. Break of 120.78 support turned resistance will affirm this case and bring further rise to falling channel resistance (now at 126.10). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.