Daily Pivots: (S1) 133.90; (P) 134.20; (R1) 134.64; More…

EUR/JPY’s sharp fall suggests rejection from 134.39 key resistance. That is, rise from 131.65 could have completed. Intraday bias is turned back to the downside for 131.65. Overall outlook will remain bullish as long as 131.65 holds and another rise is still in favor. But firm break of 131.65 will suggest reversal and turn focus to 127.55 key support. On the upside, sustained trading above 134.39 will confirm up trend resumption and and target 141.04 long term resistance.

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.

Daily Pivots: (S1) 163.94; (P) 164.17; (R1) 164.39; More…

Intraday bias in EUR/JPY remains neutral for consolidations below 165.33. Downside of current retreat should be contained by 55 4H EMA (now at 163.57) 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. However, sustained break of 55 4H EMA will turn bias to the downside for deeper fall to 160.20 support instead.

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) 132.16; (P) 132.52; (R1) 132.87; 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) 120.21; (P) 120.69; (R1) 120.99; More…

EUR/JPY is staying in tight range below 121.32 and intraday bias stays neutral. We’re holding on to the view that corrective fall from 124.08 has completed at 119.32 already. Above 121.32 will turn bias to the upside for 123.30 resistance. Break of 123.30 will likely extend the whole medium term rise from 109.20 through 124.08 high. Below 119.32 will bring another fall. In that case, downside should be contained by 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) and bring rebound.

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. Nonetheless, decisive break of 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) will argue that rise from 109.20 is completed and turn outlook bearish for 61.8% retracement at 114.88 and below.

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Daily Pivots: (S1) 132.90; (P) 133.16; (R1) 133.31; More….

Intraday bias in EUR/JPY remains on the upside at this point. Current up trend should target 100% projection of 114.42 to 127.07 from 121.63 at 134.28. Sustained break there will pave the way to 137.49 key resistance next. On the downside, however, break of 132.51 support will indicate short term topping. Intraday bias will be turned back to the downside for 130.65 resistance turned support first.

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 127.07 resistance turned support holds. 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).

Daily Pivots: (S1) 129.17; (P) 129.68; (R1) 130.00; More….

EUR/JPY’s fall from 130.73 resumes by taking out 129.57 and intraday bias is back on the downside. Rebound from 127.91 has possibly completed. Deeper fall would be seen to retest this low. Break there will resume the whole decline form 134.11 to 127.07 key resistance turned support. On the upside, above 130.18 minor resistance will turn bias back to the upside for 130.73 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) 132.74; (P) 132.96; (R1) 133.30; More….

Intraday bias in EUR/JPY remains on the upside for 134.11 high. Firm break there will resume larger up trend from 114.42. Next target is 61.8% projection of 121.63 to 134.11 from 127.91 at 135.62. On the downside, below 132.13 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). Next target will be 100% projection of 109.03 to 137.49 from 114.42 at 142.88. This will now remain the favored case as long as 127.91 support holds.

Daily Pivots: (S1) 167.00; (P) 167.38; (R1) 168.01; More…

Intraday bias in EUR/JPY stays on the upside for the moment. Rebound from 164.01 is seen as the second leg of the corrective pattern from 171.58. Further rise would be seen to 168.64 resistance. On the downside, below 165.63 minor support will turn intraday bias neutral again first.

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 157.82) holds, fall 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) 129.72; (P) 129.92; (R1) 130.17; More….

EUR/JPY is losing some downside momentum as seen in 4 hour MACD. But intraday bias stays on the downside as fall from 133.44 is in progress for 127.92 key support. Firm break there will carry larger bearish implication. On the upside, however, break of 131.40 minor resistance will turn bias back to the upside for stronger rebound, probably back to retest 133.44 high.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). However, sustained break of 127.91 support will argue that a medium term top is formed, and turn outlook bearish for deeper fall.

Daily Pivots: (S1) 122.73; (P) 123.23; (R1) 123.67; More…

EUR/JPY is still staying in the consolidation pattern from 125.80 and intraday bias remains neutral. Deeper decline cannot be ruled out. But in that case, 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) 129.58; (P) 129.99; (R1) 130.43; More…

Intraday bias in EUR/JPY remains neutral as consolidation from 130.76 is extending. Another fall could be seen. But downside should be contained by 127.43 cluster support (38.2% retracement of 122.39 to 130.76 at 127.56) and bring rebound. Above 130.76 will extend the larger rally to next key fibonacci level at 134.20.

In the bigger picture, the down trend from 149.76 (2014 high) is completed at 109.03 (2016 low). Current rally from 109.03 should be at the same degree as the fall from 149.76 to 109.03. Further rise is expected to 61.8% retracement of 149.76 to 109.03 at 134.20. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. Medium term outlook will remain bullish as long as 124.08 resistance turned support holds.

Daily Pivots: (S1) 135.17; (P) 135.58; (R1) 136.00; More….

Intraday bias in EUR/JPY remains neutral as it’s staying in range of 133.03/136.63. Near term outlook stays mildly bullish with 133.03 support intact and further rally is in favor. Break of 136.63 will resume medium term up trend. However, below 133.03 will turn focus to 132.04. Firm break there will indicate medium term reversal.

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 is needed to indicate medium term reversal. Otherwise, outlook will stay bullish in case of deep pull back.

Daily Pivots: (S1) 164.13; (P) 164.54; (R1) 165.06; More…

Intraday bias in EUR/JPY is turned neutral with current recovery. On the upside, firm break of 55 4H EMA (now at 166.08) will bring stronger rebound towards 168.64 resistance. On the downside, break of 164.01, and sustained trading below 55 D EMA (now at 163.97) will extend the fall from 171.58 to 61.8% retracement of 153.15 to 171.58 at 160.19.

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 157.82) holds, fall 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) 131.29; (P) 131.52; (R1) 131.96; More….

EUR/JPY’s decline continues today and intraday bias stays on the downside. Current development indicate medium term topping at 137.49, on bearish divergence condition in daily MACD. Deeper fall should be seen to 126.61 medium term fibonacci level next. On the upside, though, break of 133.05 will indicate short term bottoming and bring stronger rebound.

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) 129.83; (P) 130.20; (R1) 130.49; More….

Outlook in EUR/JPY is unchanged for now and intraday bias remains neutral first. 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. On the downside, break of 128.58 will resume the fall from 134.11, and target 127.07 resistance turned support next.

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) 132.69; (P) 133.15; (R1) 133.84; More…

At this point, EUR/JPY is staying in range of 131.69/134.39 and intraday bias remains neutral first. on th eupside, decisive break of 134.39 high will confirm up trend resumption. In such case, EUR/JPY should target 141.04 long term resistance. However, firm break of 131.69 will be an early sign of medium term reversal and will target 127.55 key support level.

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.

EUR/JPY breached 134.87 to 134.97 but quickly retreated. Upside momentum is also weak as seen in 4 hour MACD. Intraday bias stays neutral first. Overall, near term outlook stays bullish as long as 132.04 support holds. Above 134.97 will resume medium term rally and target 61.8% projection of 114.84 to 134.39 from 132.04 at 144.12.

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 132.04 support will suggest medium term topping and will turn outlook bearish for deeper fall back 55 week EMA (now at 127.82).

Daily Pivots: (S1) 130.10; (P) 130.40; (R1) 130.62; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 130.73 temporary top. Further rise is expected as long as 129.75 minor support holds. Corrective fall from 134.11 could have completed at 127.91 already. On the upside, break of 130.73 will resume the rebound from 127.91 to 132.68 resistance next. However, break of 129.75 will dampen this bullish view and bring retest of 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) 131.62; (P) 132.00; (R1) 132.39; More….

Intraday bias in EUR/JPY is turned neutral first with current retreat, and some consolidations could be seen. But downside should be contained well above 129.57 support to bring another rally. On the upside, break of 132.35 will extend the whole rise from 114.42, for 100% projection of 114.42 to 127.07 from 121.63 at 134.28.

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 127.07 resistance turned support holds. 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).

Daily Pivots: (S1) 125.92; (P) 126.25; (R1) 126.60; More….

Intraday bias in EUR/JPY remains on the upside for 127.50 resistance. With 124.23 cluster support (38.2% retracement of 118.62 to 127.50 at 124.10) intact, rise from 118.61 is in favor to extend. On the upside, break of 127.50 will target 129.50 resistance next. On the downside, however, decisive break of 124.10/23 should confirm completion of whole rebound from 118.61. Deeper fall should at least be seen to 61.8% retracement at 122.01 and below. In this case, the chance of resuming larger down trend will also increase.

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.