Daily Pivots: (S1) 123.61; (P) 124.03; (R1) 124.52; More…

Intraday bias in EUR/JPY remains mildly on the upside for 125.80/126.09 resistance zone. Decisive 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 case of another fall as consolidation from 125.80 extends, we’d still expect strong support from 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rebound and then rise resumption.

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) 125.01; (P) 125.41; (R1) 125.75; More…

EUR/JPY failed to take out 125.80 resistance and weakens again. Intraday bias remains neutral as the consolidation from 125.80 might extend with another fall. But still, 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.

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) 117.14; (P) 117.32; (R1) 117.54; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Corrective recovery from 115.86 should have completed at 120.01. Deeper fall should be seen to retest 115.86 low. On the upside, above 118.47 minor resistance will turn bias back to the upside for 120.01 resistance instead.

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) 134.38; (P) 134.94; (R1) 135.46; More….

Intraday bias in EUR/JPY remains neutral for the moment. Further rally is expected with 133.70 support intact. On the upside, sustained break of 137.49 resistance will resume larger up trend for 144.06 projection level next. However, firm break of 133.70 will turn bias back to the downside for deeper pull back.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Sustained break of 137.49 (2018 high) will resume larger 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) 122.07; (P) 122.69; (R1) 123.14; More…

EUR/JPY is staying in range below 124.08 and intraday bias remains neutral for the moment. Consolidation could extend but overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, we’d be cautious on topping around 126.09. Meanwhile, break of 120.90 will indicate short term topping and turn bias to the downside for 55 days EMA (now at 119.89).

In the bigger picture, price actions from 109.20 medium term bottom are seen as correcting whole down trend from 149.76 to 109.20. 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.

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Daily Pivots: (S1) 158.28; (P) 158.59; (R1) 159.19; More….

Intraday bias in EUR/JPY stays neutral at this point. Further rise is in favor as long as 157.67 support holds. Above 159.90 will resume larger up trend to 163.06 projection level. However, firm break of 157.67 will turn bias back to the downside 154.32 support 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. On the downside, break of 154.32 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

Daily Pivots: (S1) 130.74; (P) 131.01; (R1) 131.27; More….

Intraday bias in EUR/JPY stays on the upside for the moment. As noted before, corrective pattern from 134.11 could have already completed at 127.91. Further rise should be seen to retest 134.11 high. On the downside, below 130.29 minor support will dampen the bullish case and turn intraday bias neutral 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, deeper fall would be seen to 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 133.27; (P) 133.48; (R1) 133.67; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 134.11 is extending. Another rise remains mildly in favor. On the upside, sustained break of 100% projection of 114.42 to 127.07 from 121.63 at 134.28, will extend the up trend from 114.42 to 137.49 long term resistance next. However, on the downside, firm break of 132.51 will argue that EUR/JPY is already correcting whole rise from 121.63. Intraday bias will be turned to the downside for 128.8/130.65 support zone.

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.

Daily Pivots: (S1) 126.00; (P) 126.31; (R1) 126.70; More….

Intraday bias in EUR/JPY remains neutral for more consolidations first. On the upside, firm break of 127.07 will resume whole rebound from 114.42. Next target is 128.67 medium term fibonacci level. On the downside, though, break of 125.70 support will turn bias to the downside, to extend the consolidation pattern from1 27.07 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. Sustained trading above there will target 137.49 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) 121.97; (P) 122.27; (R1) 122.62; More….

Intraday bias in EUR/JPY remains on the upside as choppy rebound from 119.31 is extending. Further rise should be seen to retest 124.43 high. Decisive break there will resume whole rally from 114.42 bottom. on the downside, break of 121.81 support would turn bias back to the downside for 120.27 support. Break there should start the third leg of the corrective pattern from 124.43 to 119.31 support, and probably further to 61.8% retracement of 114.42 to 124.43 at 118.24.

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 120.35) 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) 136.60; (P) 137.00; (R1) 137.70; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, break of 138.38, and sustained trading above 55 day EMA (now at 138.29) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

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) 128.09; (P) 128.49; (R1) 129.20; More….

EUR/JPY’s rally resumed by taking out 128.44 and intraday bias is back on the upside. 128.67 long term fibonacci level was taken out already. Further rally should be seen to 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. On the downside, break of 128.37 minor support will turn intraday bias neutral and bring consolidations again.

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 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will indicate solid upside momentum and target 137.49 next. This will remain the favored case as long as 125.07 support holds.

EUR/JPY stayed in the sideway pattern from 124.08 and outlook is unchanged. Initial bias remains neutral this week first. Overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. As rise from 109.20 is still seen as a corrective pattern, we’d be cautious on topping around 126.09. Meanwhile, break of 120.90 will indicate short term topping and turn bias to the downside for 55 days EMA (now at 120.10).

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. Sustained trading below 55 day EMA will pave the way to retest 109.20.

In the long term picture, current medium term decline from 149.76 is seen as part of a long term sideway pattern from 88.96. Decisive break of 126.09 will indicate that such decline is completed and EUR/JPY has started another medium term rally already.

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Daily Pivots: (S1) 130.12; (P) 130.54; (R1) 131.18; More….

EUR/JPY’s rally resumes after brief consolidation and reaches as high as 131.17 so far. Intraday bias is back on the upside to extend the rise from 124.61, targeting 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. On the downside, below 129.90 minor support will turn bias neutral again to bring consolidation.

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) 122.39; (P) 122.69; (R1) 123.11; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 122.08 temporary low. In case of stronger recovery, upside should be limited by 124.09 support turned resistance to bring fall resumption. On the downside, break of 122.08 will target a test on 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

Daily Pivots: (S1) 124.53; (P) 125.15; (R1) 125.54; More….

EUR/JPY’s break of 124.44 support completes ahead and shoulder top pattern. Fall from 127.07 should at least be corrective whole rise from 114.42. Intraday bias is turned to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23. On the downside, break of 125.28 minor resistance will dampen this view and turn bias neutral first 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 137.49 (2018 high). This will remain the preferred case for now, as long as 119.31 support holds.

Daily Pivots: (S1) 129.25; (P) 130.03; (R1) 130.47; More…

EUR/JPY’s sharp fall and break of 129.83 minor support confirms short term topping at 131.39 on bearish divergence condition in 4 hour MACD. Intraday bias is now on the downside for 38.2% retracement of 122.39 to 131.39 at 127.95. At this point, we’d expect strong support from 127.95 to contain downside and bring rebound. But break of 131.39 is needed to confirm up trend resumption. Otherwise, more consolidative trading is expected with risk of another fall. Meanwhile, firm break of 127.5 will bring deeper decline to 125.80 resistance turned support before completing the correction.

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) 130.99; (P) 131.55; (R1) 131.85; More….

EUR/JPY’s fall from 133.47 extends to as low as 130.79 so far today. Intraday bias remains on the downside for 128.94 low first. Break there will resume whole fall from 137.49 and target 126.61 fibonacci level next. On the upside, above 131.66 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 133.47 resistance to bring another fall.

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) 138.80; (P) 139.20; (R1) 140.00; More….

Intraday bias in EUR/JPY stays on the upside at this point. Decisive break of 139.99 resistance will confirm larger up trend resumption. Next target 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28. On the downside, below 138.18 minor support will delay the bearish case and turn intraday bias again 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). 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) 145.14; (P) 145.93; (R1) 147.49; More….

EUR/JPY’s break of 145.62 resistance confirms up trend resumption. Intraday bias stays on the upside for 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, below 144.58 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.75 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.