Daily Pivots: (S1) 128.70; (P) 129.08; (R1) 129.73; More….

Intraday bias in EUR/JPY is turned neutral as the rebound from 128.28 quickly lost momentum. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42. On the downside, below 128.28 will extend the correction from 130.65. But downside should be contained above 127.48 resistance turned support to bring rise resumption.

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 137.49 (2018 high).

Daily Pivots: (S1) 125.90; (P) 126.28; (R1) 126.53; More….

EUR/JPY lost momentum ahead of 127.07 resistance, as seen in 4 hour MACD. Intraday bias is turned neutral first. On the upside, decisive break of 127.07 will resume whole rally from 114.42. Next target will be 128.67 medium term fibonacci level. On the upside, break of 125.13 resistance turned support will turn bias to the downside, to extend the consolidation form 127.07 with another falling 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 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.

EUR/JPY is staying in corrective corrective trading below 134.37 temporary top. Intraday bias remains neutral first. We’re favoring the case that medium term up trend is nearly ready to resume. Break of 134.48 will target 61.8% projection of 127.55 to 134.48 from 131.16 at 135.44 and then 100% projection at 138.09. However, firm break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

Daily Pivots: (S1) 132.55; (P) 132.92; (R1) 133.47; More….

EUR/JPY is staying in corrective corrective trading below 134.37 temporary top. Intraday bias remains neutral first. We’re favoring the case that medium term up trend is nearly ready to resume. Break of 134.48 will target 61.8% projection of 127.55 to 134.48 from 131.16 at 135.44 and then 100% projection at 138.09. However, firm break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

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 suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 136.84; (P) 137.21; (R1) 137.59; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 139.99 is still extending. Downside of retreat should be contained by 38.2% retracement of 124.37 to 139.99 at 134.02 to bring rebound. On the upside, firm break of 139.99 will resume larger up trend for 144.06 medium term projection level.

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.

EUR/JPY dropped to 128.59 last week but recovered since then. Initial bias is neutral this week first. On the downside, break of 128.59 will target a test on 127.91 low first. Break there will resume larger decline from 134.11 to 127.07 key support level next. On the upside, however, break of 129.65 will turn bias back to the upside for 130.73 resistance.

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.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Another rising leg in progress for 137.49 resistance and above.

Daily Pivots: (S1) 152.75; (P) 154.18; (R1) 156.95; More….

Intraday bias in EUR/JPY is mildly on the upside for retesting 157.99/158.03 resistance. As noted before, correction from 157.99 could have completed at 151.39, just ahead of 38.2% retracement of 139.05 to 157.99 at 150.77. Decisive break of 157.03 will resume larger up trend to 162.82 projection level next. On the downside, below 155.10 minor support will turn intraday bias neutral again. But outlook will remain bullish as long as 150.77 holds, in case of another dip.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway. Deeper decline would be seen to 55 W EMA (now at 145.56).

Daily Pivots: (S1) 117.75; (P) 117.97; (R1) 118.16; More….

Intraday bias in EUR/JPY stays neutral with focus on 117.55 minor support. Break will suggest completion of rebound from 115.86. Intraday bias will be turned to the downside for retesting 115.86 first. On the upside, break of 120.01 will resume the rebound through 61.8% retracement of 123.35 to 115.86 at 120.48.

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.

Daily Pivots: (S1) 121.05; (P) 121.37; (R1) 121.56; More….

EUR/JPY’s consolidation from 122.65 could extend further. But downside of retreat should be contained above 119.99 support to bring another rally. Prior support from 55 day EMA is a sign of near term bullishness. On the upside, break of 122.65 will target 123.35 resistance first. Break will target key channel resistance (now at 124.49).

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) 136.10; (P) 137.02; (R1) 137.65; More….

Intraday bias in EUR/JPY remains neutral as sideway trading continues. On the upside, break of 138.38 resistance will resume the rebound from 133.38 towards 142.31 resistance. On the downside, break of 134.93 will turn bias back to the downside for 133.38 support. Overall, corrective pattern from 144.26 could extend further with more choppy trading.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

Daily Pivots: (S1) 159.31; (P) 159.80; (R1) 160.20; More…

Intraday bias in EUR/JPY remains neutral with focus on 160.25 minor resistance. Decisive break there will indicate that rise from 153.15 is ready to resume, and turn bias back to the upside for 161.84 first. Nevertheless, break of 158.06 will now suggest that the rise from 153.15 has completed and turn bias back to the downside.

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 148.38 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.

Daily Pivots: (S1) 132.03; (P) 132.56; (R1) 132.91; More….

EUR/JPY’s consolidation from 133.12 extends with another sharp decline today. While deeper pull back could be seen, as long as 130.86 resistance turned support holds, further rally is expected. 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 dampen this bullish view and 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.

Daily Pivots: (S1) 120.75; (P) 121.09; (R1) 121.59; More…..

Intraday bias in EUR/JPY remains neutral and consolidation from 119.31 might extend. But further decline remains in favor with 122.11 minor resistance intact. On the downside, break of 119.31 will resume the fall from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24. However, break of 122.11 will turn bias back to the upside for retesting 124.43 instead.

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 119.39) 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) 130.76; (P) 131.18; (R1) 131.62; More….

Intraday bias in EUR/JPY remains neutral with focus on 130.86 resistance turned support. On the upside, break of 133.12 will resume the rise from 124.89 and target 137.49 high. However, firm break of 130.86 will argue that whole rise from 124.89 has completed. Deeper fall should then be seen back towards 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.

Daily Pivots: (S1) 133.07; (P) 133.36; (R1) 133.82; More….

Intraday bias in EUR/JPY remains neutral for the moment. Deeper fall is still expected with 134.79 resistance intact. Decisive break of 132.04 cluster support (23.6% retracement of 114.84 to 137.49 at 132.14) will indicate larger trend reversal on bearish divergence condition in daily MACD. In such case, outlook will be turned bearish for 38.2% retracement at 128.38 first. Nonetheless, rebound from 132.04 will retain near term bullishness. Break of 134.79 minor resistance will bring retest of 137.49 high instead.

In the bigger picture, bearish divergence condition in week EMA indicates lost up medium term up trend momentum. But there is no clear sign of completion of up trend from 109.03 yet. Break of 137.49 will target 141.04/149.76 resistance zone. However, sustained break of 132.04 will be the early sign of long term reversal and should bring deeper fall back to retest 124.08 key support level.

EUR/JPY was bounded in range trading last week. Initial bias stays neutral this week first. On the downside, below 148.58 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.

In the long term picture, break of 149.76 (2014 high) argues that whole up trend form 94.11 (2012 low) is resuming. Sustained trading above 149.76 will pave the way to 100% projection of 94.11 to 149.76 from 109.03 at 164.68, which is close to 169.96 (2008 high).

Daily Pivots: (S1) 156.21; (P) 157.12; (R1) 158.66; More….

Intraday bias in EUR/JPY stays neutral as it retreated after failing to break through 157.99 high decisive break. On the upside, sustained break of 157.99 will confirm resumption of larger up trend, and target 162.82 projection level next. Nevertheless, break of 155.57 minor support will bring deeper decline to extend the corrective pattern from 157.99.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

EUR/JPY’s sideway trading from 134.39 continued last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 131.16 support holds, further rise is mildly in favor. Decisive break of 134.48 will resume medium term rise from 114.84 and target 141.04 resistance next. However, sustained break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

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 127.55 support will suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

In the long term picture, at this point, there is no clear indication that rise from 109.03 is resuming that from 94.11 (2012 low). Hence, we’d be cautious on topping below 149.76 to extend range trading. Nonetheless, firm break of 149.76 will indicates strong underlying buying. In such case, EUR/JPY will target 100% projection of 94.11 to 149.76 from 109.03 at 164.68.

Daily Pivots: (S1) 162.92; (P) 163.22; (R1) 163.55; More…

Intraday bias in EUR/JPY is turned neutral gain with current retreat. On the upside, above 163.70 will resume the rise from 153.15 to 164.29 high. However, considering loss of momentum as seen in 4H MACD, break of 162.55 minor support will turn bias back to the downside for deeper pullback first.

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 148.38 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) 138.24; (P) 138.87; (R1) 139.47; More….

EUR/JPY’s retreat from 139.99 continues today but stays well above 134.33 support. Intraday bias remains neutral for the moment, and outlook remains bullish too. On the upside, break of 139.99 will resume larger up trend to 144.06 projection level next. However, sustained break of 134.33 will dampen this bullish case and bring deeper pull back.

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.

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).