Daily Pivots: (S1) 136.55; (P) 136.96; (R1) 137.37; 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.

Daily Pivots: (S1) 120.05; (P) 120.34; (R1) 120.53; More…..

Intraday bias in EUR/JPY remains neutral first. With 122.11 resistance intact, fall from 124.43 is still in favor to continue. Break of 119.31 will target 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 119.22) 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) 149.58; (P) 149.81; (R1) 150.04; More….

Intraday bias in EUR/JPY stays neutral at this point. On the upside, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level. 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.

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) 162.65; (P) 163.05; (R1) 163.30; More…

Intraday bias in EUR/JPY is back on the downside as fall from 165.33 short term top resumed. Further decline would be seen to 160.20 structural support next. On the upside, however, break of 164.40 minor resistance will bring retest of 165.33 instead.

In the bigger picture, current rally is part of the up trend from 114.42 (2020 low), which is still in progress. Next target is 169.96 (2008 high). Break of 160.20 support is needed to be the first sign of medium term topping. Otherwise, outlook will stay bullish in case of retreat.

Daily Pivots: (S1) 141.37; (P) 142.04; (R1) 142.49; More….

EUR/JPY’s break of 141.12 minor support suggests that rebound from 138.79 has completed much early than expected at 142.92, capped below 55 day EMA (now at 143.31). Intraday bias is back on the downside for retesting 138.79 low first. On the upside, sustained trading above 55 day EMA will bring stronger rise back to 146.71/148.38 resistance zone instead.

In the bigger picture, as long as 55 week EMA (now at 138.54) 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 before completing the correction from 148.38.

Daily Pivots: (S1) 129.63; (P) 129.82; (R1) 130.07; More….

Intraday bias in EUR/JPY remains neutral for the moment. With 131.07 resistance intact, deeper fall remains 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.

EUR/JPY edged higher to 130.45 last week but failed to break through 130.73 resistance and retreated sharply. Initial bias is mildly on the downside for retesting 127.91 support. Firm break there will resume the whole decline from 134.11 to 127.07 resistance turned support next. On the upside, though, break of 130.73 resistance will argue that correction from 134.11 has completed and turn near term outlook bullish for retesting this high.

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) 115.91; (P) 116.24; (R1) 116.61; More….

A temporary low is formed at 115.86 in EUR/JPY with current recovery. Intraday bias is turned neutral for consolidations first. But near term outlook remains bearish as long as 117.91 resistance holds. On the downside, break of 115.86 will resumed recent down trend to 114.84 medium term support next. However, firm break of 117.91 will indicate short term bottoming. Stronger rebound would be seen to 55 day EMA (now at 119.47) and above.

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

Daily Pivots: (S1) 128.65; (P) 128.99; (R1) 129.42; More….

Intraday bias in EUR/JPY is turned neutral for now, as it recovered just ahead of 127.91 key support. On the upside, break of 129.97 will indicate short term bottoming, and turn bias back to the upside for rebound back towards 133.44 high. On the downside, however, break of 127.91 will extend the whole corrective pattern from 134.11, to 126.58 medium term fibonacci level next.

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 stayed in consolidation last week and outlook is unchanged. Initial bias remains neutral this week first. On the downside, break of 117.55 minor support will suggest completion of rebound from 115.86. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 120.10 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance.

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.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Fall from 137.49 is seen as a falling leg inside the pattern. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

Daily Pivots: (S1) 127.35; (P) 128.19; (R1) 128.78; More….

EUR/JPY’s breach of 127.83 minor support suggests that fall from 130.14 might be ready to resume. Intraday bias is turned back to the downside for 126.63 low first. Break there will then resume the whole decline from 133.12 to 124.08/89 support zone. And, even in case of recovery, outlook will stay bearish as long as 130.14 resistance holds.

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) 116.98; (P) 117.48; (R1) 117.82; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 117.07 temporary low. With 118.47 resistance intact, further decline is expected. Corrective recovery from 115.86 should have completed at 120.01. Break of 117.07 will target a retest on 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) 128.73; (P) 128.88; (R1) 129.13; More….

Intraday bias in EUR/JPY stays neutral and outlook is unchanged. On the downside, firm break of 127.91 support will resume the whole decline from 134.11 to 127.07 resistance turned support next. On the upside, though, break of 130.45 resistance will now argue that whole correction from 134.11 has completed and turn near term outlook bullish for retesting this high.

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) 131.49; (P) 132.09; (R1) 132.61; More….

Intraday bias in EUR/JPY remains neutral at this point. With 130.86 resistance turned support intact, near term outlook stays bullish and further rally is in favor. 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 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) 137.55; (P) 138.97; (R1) 139.94; More….

Intraday bias in EUR/JPY stays on the downside for retesting 137.37 support first. Break there will resume whole decline from 148.38 to 135.40 fibonacci level next. On the upside, above 139.54 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 142.84 resistance holds.

In the bigger picture, as long as 55 week EMA (now at 138.64) 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) 157.42; (P) 157.73; (R1) 158.24; More…

Intraday bias in EUR/JPY stays neutral at this point, and further rally is in favor with 155.06 support intact. On the upside, above 158.97 will resume the rebound from 153.15 to 100% projection of 153.15 to 158.55 from 155.06 at 160.46.

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) 130.64; (P) 131.33; (R1) 131.94; More….

Despite breaching 130.86 resistance turned support, EUR/JPY quickly recovered. Intraday bias remains neutral and further rally is still in favor. On the upside, break of 133.12 will 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) 126.44; (P) 126.72; (R1) 127.27; More….

Intraday bias in EUR/JPY remains neutral for the moment and consolidation from 127.48 could extend further. But in case of another fall, downside should be contained by 125.07 support to bring rebound. On the upside, decisive break of 127.48 will resume larger rise from 114.42, to 128.67 fibonacci level.

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 121.63 support holds. Next target is 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 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY rose further to 144.06 last week but retreated well ahead of 145.62 high. Initial bias stays neutral this week first. On the upside, firm break of 145.62 resistance will resume larger up trend. However, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg towards 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 (2016 low) should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

Daily Pivots: (S1) 134.81; (P) 135.15; (R1) 135.51; More….

Intraday bias in EUR/JPY is neutral for consolidation below 135.62 temporary top. Further rise is still in favor for the moment. Break of 135.62 will extend the medium term rally to 61.8% projection of 114.84 to 134.39 from 132.04 at 144.12. However, break of 4 hour 55 EMA will bring deeper pull back to 134.37 support and below.

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 132.04 support will suggest medium term topping and will turn outlook bearish for deeper fall back 55 week EMA (now at 128.34).