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.

EUR/JPY extended the consolidation from 137.50 last week. Initial bias stays neutral this week first, but 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.

In the long term picture, focus is now on 137.49 resistance (2018 high). Sustained break there will raise the chance that whole rise from 94.11 (2012 low) is resuming through 149.76 resistance. This will be a slightly favored case for now, as long as 124.37 support holds.

EUR/JPY rose further to as high as 144.71 last week, and break of 144.26 indicates resumption of larger up trend. But as a temporary top was formed, initial bias is turned neutral for consolidation this week. Downside of retreat should be contained well above 138.68 support. On the upside, break of 144.71 will target 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67 next.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

In the long term picture, up trend from 94.11 (2012 low) is seen as in the third leg. Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 55 month EMA (now at 129.46) holds.

Daily Pivots: (S1) 128.70; (P) 129.02; (R1) 129.44; More….

EUR/JPY’s rise from 126.63 is still in progress and intraday bias stays on the upside for 130.20 resistance. Strong resistance could be seen from 130.20 to limit upside, to resume the decline from 133.12. On the downside, break of 128.38 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 back to 133.12 high instead.

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) 136.08; (P) 136.48; (R1) 137.26; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. Further rise 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) 136.58; (P) 136.80; (R1) 137.15; More….

EUR/JPY’s up trend resumes by taking out 137.50 resistance and intraday bias is back on the upside. Next target is 144.06 projection level. On the downside, below 136.42 minor support will turn intraday bias neutral and bring consolidations first. But downside of retreat should be contained above 134.33 support to bring rally resumption.

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) 131.38; (P) 131.69; (R1) 131.93; More….

EUR/JPY is losing upside momentum as seen in 4 hour MACD. But further rise is expected as long as 129.90 minor support holds. Rebound from 124.61 should target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 129.90 will indicate short term topping and turn bias back to the downside for 127.13 support.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there as completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 156.94; (P) 157.61; (R1) 158.71; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, firm break of 158.464 will argue that the pull back has from 159.75 is completed. Bias will be turned back to the upside for resuming larger up trend through 159.75 high. On the downside, below 156.07 minor support will resume the fall from 159.75 through 154.32 support.

In the bigger picture, price actions from 159.75 are views as a corrective pattern for now. As long as 151.39 support holds, rise from 114.42 (2020 low) is still expected to continue through 159.75 at a later stage. Nevertheless, firm break of 151.39 will confirm medium term topping, and bring lengthier and deeper correction.

Daily Pivots: (S1) 135.18; (P) 135.80; (R1) 136.76; More….

EUR/JPY’s break of 135.85 minor resistance suggests short term bottoming at 133.38, after defending 134.11 key support. Intraday bias is back on the upside for 55 day EMA (now at 138.54). Sustained break there will suggest that whole correction from 144.26 has completed. This will now remain the favored case as long as 133.38 support holds.

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) 127.71; (P) 129.27; (R1) 130.32; More….

EUR/JPY’s decline continues today and reaches as low as 127.96 so far. 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18 is met but there is no sign of bottoming yet. Intraday bias remains on the downside for 126.61 medium term fibonacci level. We’ll be aware of strong support from 126.61 to contain downside and bring rebound. On the upside, above 129.05 minor resistance will turn intraday bias neutral first. But near term outlook will stay bearish as long as 131.34 resistance holds.

In the bigger picture, for now, price actions from 137.49 are viewed as a corrective pattern only. Hence, while deeper decline would be seen, strong support is expected at 38.2% retracement of 109.03 to 137.49 at 126.61 to contain downside and bring rebound. Up trend from 109.03 (2016 low) is expected to resume afterwards. Though, sustained break of 126.61 will be an important sign of trend reversal and will turn focus to 124.08 resistance turned support.

Daily Pivots: (S1) 135.91; (P) 136.95; (R1) 138.47; More….

Intraday bias in EUR/JPY remains mildly on the upside for retesting 139.99 high. Firm break there will resume larger up trend for 144.06 medium term projection level. In case consolidation from 139.99 extends with another fall, downside should be contained by 38.2% retracement of 124.37 to 139.99 at 134.02 to bring rebound.

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) 131.76; (P) 132.15; (R1) 132.44; More….

Outlook in EUR/JPY remains unchanged. Corrective rise from 128.94 has completed at 133.47 already. Deeper decline should be seen back to retest 128.94 low. Break there will resume whole decline from 137.49. On the upside, above 133.47 will extend the rebound. But we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside and bring near term reversal eventually.

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) 128.33; (P) 129.02; (R1) 130.00; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. With break of 55 day EMA, the corrective pattern from 134.11 might have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone. This will now be the mildly favored case as long as 127.40 minor support holds. Nevertheless, break of 127.40 will bring retest of 124.37 instead.

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 of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 128.00; (P) 128.39; (R1) 128.85; More….

EUR/JPY’s rebound from 146.89 extends higher to 128.69 so far and met 55 day EMA already. Intraday bias stays on the upside and further rally could be seen towards 131.97 resistance. On the downside, break of 127.33 minor support will suggest that the rebound has completed and bring retest of 124.61/89 support zone.

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) 122.09; (P) 122.21; (R1) 122.37; More….

EUR/JPY’s corrective fall from 122.87 short term top is in progress. Intraday bias remains mildly on the downside for 55 day EMA (now at 121.17). 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.

Daily Pivots: (S1) 158.26; (P) 158.69; (R1) 159.01; More..

EUR/JPY’s fall from 164.29 accelerates to as low as 157.34 so far. Intraday bias stays on the downside and deeper decline would be seen to 154.32 cluster support (38.2% retracement of 139.05 to 164.29 at 154.64). On the upside, above 158.56 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, bearish divergence condition in 55 D EMA indicates that a medium term top could be formed at 164.29 already. Price actions from there are tentatively seen as a correction only. There is no clear sign that the up trend from 144.42 (2020 low) has completed yet. As long as 55 W EMA (now at 152.12) holds, another rally through 164.29 is still in favor as a later stage.

EUR/JPY stayed in range of 128.58/131.07 last week and outlook is unchanged. Initial bias remains neutral this week first and deeper fall is mildly in favor. 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.

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) 117.02; (P) 117.40, (R1) 117.77; More….

Intraday bias in EUR/JPY is turned neutral with today’s retreat. Rebound from 115.44 short term bottom is in favor to continue. On the upside, break of 117.77 will target 119.00 resistance next. Sustained break there will indicate that whole fall from 122.87 has completed and turn outlook bullish. On the downside, break of 115.44 will resume larger down trend instead.

In the bigger picture, there is no clear indication of trend reversal yet, with the cross staying well inside falling channel. Fall from 137.49 (2018 high) is still in progress for 109.48 (2016 low). Also, in any case, outlook will remain bearish as long as 122.87 resistance holds, in case of another rebound.

Daily Pivots: (S1) 117.96; (P) 118.23; (R1) 118.73; More….

Intraday bias in EUR/JPY remains on the upside at this point as rebound from 115.86 is in progress. Sustained break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 117.73 minor support will turn bias back to the downside for retesting 115.86 instead.

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 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

EUR/JPY gyrated higher last week even though upside momentum as seen in 4 hour MACD was not too convincing. Further rise is expected this week as long as 123.84 support holds. Rebound form 122.37 would target a test on 127.07 high. Decisive break there will resume larger rally from 114.42. On the downside, however, break of 123.84 will turn bias 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.

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 and above.