Daily Pivots: (S1) 127.46; (P) 128.01; (R1) 128.36; More….

At this point, we’re still favoring the case of short term bottoming at 126.63. Intraday bias remains on the upside for 130.20 resistance first. Break will pave the way for 133.12 high. On the downside, below 127.24 will turn bias to the downside. Break of 126.63 will extend the fall from 133.12 to retest 124.89 low.

In the bigger picture, as long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) is still in progress. 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) 117.50; (P) 118.03; (R1) 118.41; More….

Intraday bias in EUR/JPY stays neutral first and near term 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.

Daily Pivots: (S1) 131.12; (P) 131.43; (R1) 131.94; More….

No change in EUR/JPY’s outlook. A short term bottom should be in place at 129.34, on bullish convergence condition in 4 hour MACD. Further rise is expected to 38.2% retracement of 137.49 to 129.34 at 132.45. Break will target 61.8% retracement at 134.37. However, decline 137.49 shouldn’t be finished yet. We’d still expect another fall at a later stage. And break of 129.34 will pave the way to 126.61 medium term fibonacci level

In the bigger picture, current development argues that rise from 109.03 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.

Daily Pivots: (S1) 141.27; (P) 141.74; (R1) 142.21; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. On the downside, break of 137.37 will resume the whole decline from 148.38 to 135.40 fibonacci level next. However, firm break of 142.84 will argue that the correction from 148.38 has completed, and bring stronger rise back to 146.71 resistance.

In the bigger picture, as long as 55 week EMA (now at 138.62) 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.

EUR/JPY’s up trend resumed last week and surged to as high as 155.23. Initial bias stays on the upside this week for 100% projection of 139.05 to 151.60 from 146.12 at 158.67 next. On the downside, below 153.08 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 148.38 resistance turned 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 109.03 at 164.68, and possibly further to 169.96 (2008 high).

Daily Pivots: (S1) 119.75; (P) 120.69; (R1) 122.33; More…

EUR/JPY’s rally continues today and reaches as high as 121.97 so far. Intraday bias remains on the upside for 122.88 resistance next. Break there will likely resume the larger rally from 109.20. In such case, EUR/JPY should break through 124.08 to 126.09 key resistance level. On the downside, break of 118.91 support is needed to indicate short term topping. Otherwise, outlook will remains bullish in case of retreat.

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 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) 163.77; (P) 164.10; (R1) 164.72; More…

Intraday bias in EUR/JPY remains neutral and more consolidations could be seen below 65.33. On the upside, firm break of 165.33 will resume larger up trend towards 169.96 key resistance next. On the downside, though, break of 162.59 will turn bias to the downside for 160.20 support next.

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.

Daily Pivots: (S1) 119.15; (P) 119.69; (R1) 119.99; More…..

Intraday bias in EUR/JPY remains on the downside at this point. Decline from 124.43 short term top should continue to 61.8% retracement of 114.42 to 124.43 at 118.24. On the upside, break of 122.11 resistance is needed to indicate completion of the decline. Otherwise, further fall will remain in favor in case of recovery.

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 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.22) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

Daily Pivots: (S1) 129.41; (P) 129.56; (R1) 129.73; More….

EUR/JPY is staying in consolidation from 128.58 and intraday bias remains neutral for the moment. With 131.07 resistance intact, outlook stays bearish. On the downside, break of 128.85 will resume the fall from 134.11 to 127.07 resistance turned support next. On the upside, break of 131.07 resistance will argue that choppy fall from 134.11 has completed. Intraday bias will be turned back to the upside for 132.68 resistance first.

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, and open up the case for retesting 114.42.

Daily Pivots: (S1) 125.88; (P) 126.48; (R1) 126.82; More….

EUR/JPY’s rally lost momentum after hitting 127.07 and retreated back into prior range. Intraday bias is turned neutral again. Further rise is still expected as long as 124.44 support holds. Break of 127.07 will target 128.67 fibonacci level. However, firm break of 124.44 will confirm short term topping and turn bias to the downside for deeper correction.

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 55 week EMA (now at 121.54) holds. However, sustained break of 55 week EMA will revive medium term bearishness for another low below 114.42 at a later stage.

Daily Pivots: (S1) 122.73; (P) 123.56; (R1) 124.19; More…

No change in EUR/JPY’s outlook as consolidation from 125.80 is still in progress. Deeper fall could be seen but downside should be contained by 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rise resumption. We’re staying mildly bullish in the cross. And, break of 126.09 key resistance will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. Nonetheless, firm break of 121.61 will dampen our bullish view and bring deeper fall to 61.8% retracement at 119.02.

In the bigger picture, focus is staying 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) 156.63; (P) 157.18; (R1) 157.56; More….

EUR/JPY’s fall from 157.99 is extending lower today and intraday bias is now on the downside with strong break of 55 4H EMA. Deeper correction could be seen to 154.03 support or below. But overall outlook will stay bullish as long as 151.60 resistance turned support holds. Larger rally is still expected to resume through 157.99 after the correction completes.

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.

EUR/JPY’s strong rebound last week suggests that price actions from 122.65 are merely a corrective pattern. Rise from 115.86 is in favor to extend higher. Initial bias remains neutral this week first. Break of 122.65 resistance will confirm this bullish case and target medium term channel resistance (now at 124.26). However, break of 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) will argue that rise from 115.86 has completed. Deeper fall would be seen to 61.8% retracement at 118.45.

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 to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance 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 125.60), this is the preferred case.

Daily Pivots: (S1) 120.24; (P) 120.66; (R1) 121.37; More….

Outlook in EUR/JPY remains unchanged first. 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.

EUR/JPY turned into sideway consolidation last week. Initial bias remains neutral this week first. Break of 127.36 will resume larger fall to 126.58 medium term fibonacci level. We’d look for some support from there to bring rebound. But sustained break of 126.58 will carry larger bearish implications. On the upside, break of 129.09 will extend the rebound to 55 day EMA (now at 129.66) and above.

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) 123.07; (P) 124.10; (R1) 125.51; More….

EUR/JPY’s breach of 125.00 resistance argues that correction from 127.07 has completed with three waves down to 121.63. Intraday bias is back on the upside for retesting 127.07 high. On the downside, though, break of 123.18 minor support would extend the correction with another fall through 121.63.

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) 134.33; (P) 134.89; (R1) 135.86; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. Corrective fall from 139.99 could still extend lower. Below 132.63 will target 61.8% retracement of 124.37 to 139.99 at 130.33. Nevertheless, break of 138.33 will indicate that the correction has completed, and bring retest of 139.99 high next.

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) 129.06; (P) 129.48; (R1) 129.85; More….

EUR/JPY recovers quickly after hitting 129.11 and intraday bias is turned neutral first. Further decline remains in favor as long as 130.70 resistance holds. Below 129.11 will target 127.85 support first. Break there will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.70 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have 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 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.895 will turn focus back to 124.08 key support level.

EUR/JPY’s rebound from 153.15 resumed by breaking through 158.55 last week. Initial bias stays on the upside this week for further rally to 100% projection of 153.15 to 158.55 from 155.06 at 160.46. For now, risk will stay mildly on the upside as long as 155.06 support holds, in case of retreat.

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

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 148.48 resistance turned support holds.

Daily Pivots: (S1) 117.15; (P) 117.42; (R1) 117.72; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 116.56 is extending. In case of stronger recovery, upside should be limited by 119.58 resistance to bring fall resumption. On the downside, break of 116.56 will resume larger down trend to 114.84 medium term support next. Though, break of 119.58 will indicate short term bottoming and bring stronger rebound.

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.