Daily Pivots: (S1) 131.36; (P) 131.66; (R1) 131.94; More….

Intraday bias in EUR/JPY remains on the upside at this point and outlook is unchanged. Corrective pattern from 134.11 might have completed at 124.37 already. Further rise should be seen to retest 133.13/134.11 resistance zone first. Decisive break there will resume larger up trend. However, break of 130.69 minor support will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 135.43; (P) 136.38; (R1) 137.21; More….

EUR/JPY’s decline continues today and intraday bias stays on the downside for 100% projection of 144.26 to 136.85 from 142.31 at 134.90, and possibly below. Strong support should be seen from 134.11 to complete the correction from 144.26. On the upside, above 137.31 minor resistance will turn intraday bias neutral first. However, sustained break of 134.11 will carry larger bearish implications and target 161.8% projection at 130.32.

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) 157.64; (P) 158.29; (R1) 158.87; More….

EUR/JPY’s up trend resumed by breaking through 159.90 today. Intraday bias is back on the upside. Current rally should target 163.06 projection level next. On the downside, break of 157.67 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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) 123.65; (P) 123.93; (R1) 124.07; More….

EUR/JPY is staying in range of 123.01/125.08 and intraday bias remains neutral. On the upside, break of 125.08 will resume the rebound form 122.37 to retest 127.07. Nevertheless, break of 123.01 will argue that correction from 127.07 is possibly extending with another falling leg. Intraday bias will be turned back to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23.

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) 130.17; (P) 130.61; (R1) 131.13; More….

EUR/JPY’s break of 131.10 suggests resumption of rise from 124.89. Intraday bias is turned back to the upside for 131.97 resistance and then key fibonacci resistance at 132.56. On the downside, break of 130.09 minor support will turn intraday bias neutral again. But outlook stays cautiously bullish as long as 127.85 support holds.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

Daily Pivots: (S1) 149.20; (P) 149.57; (R1) 150.30; More….

Intraday bias in EUR/JPY stays neutral first. On the upside, break of 150.04 will extend the rebound from 146.12 to retest 151.60 high. Decisive break there will resume larger up trend. On the downside, however, break of 148.15 minor support should extend the corrective pattern from 151.60 with another falling leg through 146.12.

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) 128.56; (P) 128.88; (R1) 129.45; More….

EUR/JPY breached 38.2% retracement of 124.89 to 130.86 at 128.57 but quickly recovered. Intraday bias stays neutral first. On the downside, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61/89. On the upside, above 129.83 minor resistance will retain near term bullishness. And intraday bias will be turned back to the upside for 130.86 and above.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

Daily Pivots: (S1) 125.70; (P) 128.36; (R1) 127.82; More….

EUR/JPY’s decline continues today and reaches as low as 125.13 so far. Intraday bias remains on the downside for retesting 124.61 low. Break will resume howl down trend from 137.49. On the upside, above 126.80 minor resistance will turn intraday bias neutral and bring consolidation. But recovery should be limited below 128.49 resistance to bring another fall.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 157.96; (P) 158.23; (R1) 158.66; More….

Intraday bias in EUR/JPY remains neutral as sideway trading continues. On the downside, break of 156.85 will turn bias back to the downside for 55 D EMA (now at 156.42) and below. On the upside, break of 159.75 will resume larger up trend 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. Sustained break there will pave the way to retest long term resistance at 169.96. This will remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 124.91; (P) 125.64; (R1) 126.38; More….

EUR/JPY edged lower to 124.89 but quickly recovered. Intraday bias is turned neutral first. Considering mild bullish convergence condition in 4 hour MACD, in case of another fall, downside will likely be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 119.48; (P) 119.75; (R1) 119.95; More….

Intraday bias in EUR/JPY is turned neutral with today’s retreat and some consolidations could be seen below 120.01 temporary top. Further rise is still in favor as long as 117.55 minor support holds. Above 120.01 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

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) 160.12; (P) 160.52; (R1) 161.22; More…

Intraday bias in EUR/JPY remains neutral as consolidation from 161.84 is extending. While another dip cannot be ruled out, further rally is expected as long as 158.55 resistance turned support holds. Break of 161.84 will resume the rebound from 153.15 to retest 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) 128.10; (P) 128.51; (R1) 129.09; More….

EUR/JPY is staying in range of 127.49/129.10 and intraday bias remains neutral. Near term outlook stays mildly bearish as long as 130.14 resistance holds. On the downside, below 127.49 will target 126.63 support first. Break there will resume whole fall from 133.12 and target 124.08/89 support zone. On the upside, however, break of 130.14 will resume the rebound from 126.63 towards 133.12 resistance.

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.

EUR/JPY’s rebound from 126.63 short term bottom extended higher last week Initial bias stays on the upside for 130.20 resistance. Based on unconvincing upside momentum so far, we’d expect strong resistance from 130.20 to limit upside to bring another decline. On the downside, break of 127.61 minor support will turn bias to the downside. Break of 126.63 will extend the fall from 133.12 to retest 124.89 low. Nonetheless, sustained break of 130.20 will pave the way to 133.12 high.

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.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 129.66; (P) 129.97; (R1) 130.35; More….

Intraday bias in EUR/JPY remains on the upside despite mild loss in upside momentum. Current rally from 124.89 should target resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. On the downside, below 128.78 minor support will turn intraday bias neutral and bring consolidations first. .

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might now be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

Daily Pivots: (S1) 121.92; (P) 122.38; (R1) 122.63; More….

Intraday bias in EUR/JPY remains mildly on the downside. Correction from 122.87 short term top is in progress. Deeper fall could be seen to 55 day EMA (now at 121.09). Break there will target 120.17 structural support. On the upside, break of 122.87 will extend larger rise from 115.86 to medium term channel resistance (now at 124.26).

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.

EUR/JPY dropped further to 123.31 last week and the development suggests that it’s now correcting whole rise from 114.42. As a temporary low was formed at 123.31, initial bias is neutral this week first. Upside of recovery should be limited by 125.01 minor resistance to bring another decline. On the downside, break of 123.31 will target 38.2% retracement of 114.42 to 127.07 at 122.23. Nevertheless, break of 125.01 will turn bias back to the upside for retesting 127.07 high.

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.

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

EUR/JPY’s up trend continued last week and hit as high as 161.93. Initial bias stays on the upside this week. Further rise should be seen to 163.06 projection level next. Strong resistance could be seen there to limit upside on first attempt. On the downside, below 161.01 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

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. Sustained break there will target 169.96 (2008 high). 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.

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 114.42 at 170.07 which is close to 169.96 (2008 high).

Daily Pivots: (S1) 131.92; (P) 132.49; (R1) 133.09; More….

EUR/JPY’s consolidation from 113.12 temporary top is in progress and intraday bias stays neutral. 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) 129.34; (P) 130.29; (R1) 131.09; More….

Intraday bias in EUR/JPY remains on the downside at this point. Current fall from 133.12 would target 127.85 support first. Prior rise fro 124.89 could have completed at 133.12 already. Break of 127.85 will pave the way to retest 124.89. On the upside, though, above 131.23 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 now be the preferred case as long as 127.85 near term support holds.