Daily Pivots: (S1) 129.86; (P) 130.49; (R1) 130.88; More…

Intraday bias in EUR?JPY remains neutral for the moment. A short term top is in place at 131.39 on bearish divergence condition in 4 hour MACD. Break of 129.83 will confirm and turn bias to the downside for 38.2% retracement of 122.39 to 131.39 at 127.95. But we’d expect strong support from there to contain downside and bring rebound. On the upside, break of 131.39 is needed to confirm rise resumption. Otherwise, more consolidative trading is expected with risk of another fall.

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) 153.90; (P) 154.79; (R1) 155.39; More….

EUR/JPY’s fall from 157.99 is in progress and intraday bias remains on the downside. Sustained trading below 154.03 support will argue that it’s at least correcting the whole rise from 139.05. Deeper fall would be seen to 55 D EMA (now at 152.28). On the upside, above 155.66 minor resistance will turn intraday bias neutral and bring consolidations first.

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.

Daily Pivots: (S1) 128.12; (P) 128.59; (R1) 129.04; More…

No change in EUR/JPY’s outlook even though it’s losing upside momentum. Further rise is expected with 127.43 minor support intact. We’d be cautious of strong resistance between 61.8% projection of 114.84 to 125.80 from 122.39 at 129.16 and medium term projection level at 129.89 to bring short term topping. On the downside, below 1.2743 will bring deeper pull back to 125.80 resistance turned support.

In the bigger picture, the break of 126.09 support turned resistance should have confirmed completion of down trend form 149.76 (2014 high), at 109.03 (2016 low). Current rise from 109.03 should target 100% projection of 109.03 to 124.08 from 114.84 at 129.89 first. Break there will pave the way to 61.8% retracement of 149.76 to 109.03 at 134.20 and above. Medium term outlook will now remain bullish as long as 122.39 support holds.

Daily Pivots: (S1) 158.27; (P) 158.96; (R1) 159.37; More…

Intraday bias in EUR/JPY remains neutral for the moment. Further rise is mildly in favor as long as 157.19 minor support holds. Firm break of 100% projection of 153.15 to 158.55 from 155.06 at 160.46 will pave the way to 161.8% projection at 163.79. However, break of 157.19 support will argue that the rebound has completed, and turn bias back to the downside.

In the bigger picture, price actions from 164.29 medium term top are tentatively seen as a correction to rise from 139.05 for now. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) could still resume through 164.29 at a later stage.

Daily Pivots: (S1) 126.05; (P) 126.32; (R1) 126.51; More….

Intraday bias in EUR/JPY remains neutral first as upside momentum is week as seen in 4 hour MACD. Overall, with 124.23 cluster support (38.2% retracement of 118.62 to 127.50 at 124.10) intact, near term bullish ness is retained. 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.

Daily Pivots: (S1) 132.92; (P) 133.16; (R1) 133.42; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 134.11. Further rally is still expected with 132.51 support intact. 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. On the downside, however, firm break of 132.51 will indicate short term topping and bring deeper pull back.

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 130.65 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). For now, outlook will stay bullish as long as 127.07 resistance turned support holds, in case of pull back.

Daily Pivots: (S1) 133.58; (P) 133.85; (R1) 134.00; More….

EUR/JPY continues to lose upside momentum as seen in 4 hour MACD. But further rise is still expected to 100% projection of 114.42 to 127.07 from 121.63 at 134.28. Sustained break there will extend the up trend from 114.42 to 137.49 long term resistance next. On the downside, break of 132.51 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 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 130.65 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) 129.93; (P) 130.24; (R1) 130.83; More….

Intraday bias in EUR/JPY remains on the upside for the moment. Whole consolidation from 134.11 could have completed with three waves down to 127.36, ahead of 126.58 medium term fibonacci level. Further rally would be seen to retest 133.44/134.11 resistance zone. On the downside, however, break of 129.25 minor support will dampen this bullish view and turn intraday bias neutral first.

In the bigger picture, as long as 38.2% retracement of 114.42 (2020 low) to 134.11 at 126.58 holds, up trend from 114.42 is still in favor to continue. Break of 134.11 will target long term resistance at 137.49 (2018 high). However, sustained break of 126.58 will raise the chance of medium term bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

EUR/JPY extended the correction from 132.35 last week but drew support from 4 hour 55 EMA and recovered. Yet, initial bias remains neutral this week first as correction from 132.35 could still extend with another fall. Even in that case, downside should be contained well above 129.57 support. On the upside, firm break of 132.35 will resume the larger up trend 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).

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) 122.54; (P) 122.84; (R1) 123.08; More….

EUR/JPY’s decline from 127.07 resumes after brief consolidations and focus is now on 38.2% retracement of 114.42 to 127.07 at 122.23. Sustained break there will pave the way to o 61.8% retracement at 119.25, which is close to 119.31 key support. In any case, break of 124.31 resistance is needed to indicate completion of the decline. Otherwise, further fall will remain in favor in case of recovery.

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 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 edged higher to 159.32 last week but retreated since then. Initial bias is mildly on the downside this week for pull back towards 55 D EMA (now at 155.31). On the upside, though, break of 159.32 will resume larger up trend to 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next.

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 now remain the favored case as long as 151.39 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 114.42 at 170.07 which is close to 169.96 (2008 high).

Daily Pivots: (S1) 137.30; (P) 138.05; (R1) 138.97; More….

Intraday bias in EUR/JPY stays neutral first. On the upside, firm break of 139.78 minor resistance will argue that pull back from 144.26 has completed at 136.85. Further rally would be seen back to retest 144.26 high. On the downside, though, below 136.85 will resume the fall back to 132.63 support.

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. Firm break of 139.78 will target 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) 162.37; (P) 163.04; (R1) 163.55; More….

EUR/JPY’s break of 162.42 minor support suggest that rebound from 161.22 has completed. Intraday bias is back on the downside to extend the corrective pattern from 164.29, with a third leg. Deeper fall should be seen through 161.22 to 100% projection of 164.29 tot 161.22 from 163.77 at 160.63. But strong support should be seen from 159.75 resistance turned support to bring rebound. Nevertheless, for now, risk will stay on the downside as long as 163.70 resistance holds, in case of recovery.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 169.96 (2008 high). On the downside, break of 159.75 resistance turned 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) 133.47; (P) 134.04; (R1) 135.14; More….

Intraday bias sin EUR/JPY remains on the upside for the moment. Sustained trading above 134.11 high will confirm resumption of larger up trend next target will be 136.53 medium term projection level. On the downside, though, break of 132.31 minor support will delay the bullish case and turn bias neutral first.

In the bigger picture, current development suggests that corrective pattern from 134.11 has completed at 124.37 already. Firm break of 134.11 will resume the up trend from 114.42 (2020 low). Next target is 61.8% projection of 114.42 to 134.11 from 124.37 at 136.53, and then 137.49 (2018 high). This will now remain the favored case as long as 124.37 support holds.

Daily Pivots: (S1) 123.33; (P) 123.79; (R1) 124.05; More….

Intraday bias in EUR/JPY remains neutral first, with focus on 124.31 resistance. Firm break there will argue that the pull back from 127.07 has completed. Intraday bias will be turned back to the upside for retesting this high. On the downside, sustained break of 38.2% retracement of 114.42 to 127.07 at 122.23 will extend the fall from 127.07 to 61.8% retracement at 119.25, which is close to 119.31 key support.

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) 139.82; (P) 141.01; (R1) 141.86; More….

Intraday bias in EUR/JPY remains neutral first and consolidation from 139.11 temporary low could extend. Still, outlook is unchanged that fall from 145.55 is the third leg of the whole corrective decline from 148.38. Risk stays on the downside as long as 4 hour 55 EMA (now at 142.55) holds. Below 139.11 will target 137.37 low, and then 135.40 fibonacci level.

In the bigger picture, as long as 55 week EMA (now at 139.54) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, firm break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Sustained break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 127.87; (P) 128.16; (R1) 128.57; More….

The break of 128.44 minor resistance suggests short term bottoming at 126.63. Intraday bias is turned to the upside for 130.20 resistance first. Break will pave the way for 133.12 high. Nonetheless, break of 126.63 will resume the fall from 133.12 and target a test on 124.89 low.

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) 133.90; (P) 134.20; (R1) 134.64; More…

EUR/JPY’s breach of 134.39 resistance argues that medium term rally is resuming. Intraday bias is cautiously on the upside. Sustained trading above 134.39 will confirm and target 141.04 long term resistance. However, break of 133.74 minor support will dampen this view and turn bias back to the downside for 131.65 support instead.

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) 130.97; (P) 131.47; (R1) 131.99; More….

AT this point, EUR/JPY is holding above 130.86 resistance turned support and intraday bias remains neutral. 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.