Daily Pivots: (S1) 157.48; (P) 157.89; (R1) 158.58; More….

Intraday bias in EUR/JPY is turned neutral with current recovery. On the upside, firm break of 158.51 will argue that larger up trend is ready to resume through 159.75, to 163.06 projection target. On the downside, sustained trading below 55 D EMA (now at 156.68) will argue that fall from 159.75 is a larger scale correction. Deeper fall would be seen back towards 151.39 support.

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) 116.89; (P) 117.13; (R1) 117.54; More….

Intraday bias in EUR/JPY is turned neutral with today’s recovery. On the downside, decisive break of 115.86/116.12 support zone will resume larger down trend. Next near term target will be 100% projection of 122.78 to 116.12 from 121.14 at 114.39. On the upside, though, break of 118.87 minor resistance will argue that consolidation from 115.86 is extending with another rising leg. Intraday bias will be turned back to the upside for 121.14 resistance.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high), as well as falling 55 week EMA. As long as 122.87 resistance holds, the down trend form 137.49 should extend to 109.48 (2016 low). However, sustained break of 122.87 will indicate medium term bullish reversal.

Daily Pivots: (S1) 144.22; (P) 144.69; (R1) 145.57; More….

Range trading continues in EUR/JPY and intraday bias remains neutral at this point. On the upside, break of 145.66 will resume recent rebound from 137.37. Further rally should then be seen to retest 148.38 high. On the downside, break of 142.53 will target 138.83 support instead.

In the bigger picture, as long as 55 week EMA (now at 139.78) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, sustained break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Decisive break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 136.19; (P) 137.29; (R1) 137.97; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, break of 138.38, and sustained trading above 55 day EMA (now at 138.44) 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) 155.11; (P) 155.71; (R1) 156.59; More..

EUR/JPY’s breach of 157.67 resistance suggest that rebound from 153.15 is resuming. Intraday bias is back on the upside for 55 D EMA (now at 159.00). On the downside, break of 153.15 will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69.

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) 122.52; (P) 123.23; (R1) 123.94; More….

Intraday bias in EUR/JPY remains on the downside for 38.2% retracement of 114.42 to 127.07 at 122.23. Decisive break there will raise the chance that whole rise form 114.42 has completed. Deeper fall would be seen to 61.8% retracement at 119.25. On the upside, break of 124.31 resistance will argue that the decline has completed and turn bias back to the upside for rebound.

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.

EUR/JPY dropped sharply to as low as 126.00 last week. The solid break of 127.13 support confirmed our view that corrective rise from 124.61 has completed with three waves up to 131.97. And more importantly, the whole fall from 137.49 is likely resuming. Initial bias remains on the downside this week for 124.61 . On the upside, above 127.38 minor resistance will turn intraday bias neutral first. But recovery should be limited below 128.49 support turned 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.

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.

EUR/JPY’s up trend continued to 174.50 last week but turned sideway since then. Initial bias is neutral this week for some more consolidations first. On the upside, firm break of 174.50 will target 138.2% projection of 164.01 to 170.87 from 167.52 at 177.00. On the downside, however, break of 173.07 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 170.7 resistance turned support holds, even in case of deep pullback.

In the long term picture, rise from 114.42 (2020 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). Next target is 138.2% projection of 94.11 to 149.76 from 114.42 at 191.32. This will remain the favored case as long as 167.52 support holds.

Daily Pivots: (S1) 128.13; (P) 128.80; (R1) 130.00; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, break of 130.33 will resume the rebound from 124.61. And by then, EUR/JPY should have also taken out near term falling channel decisively. That would be a strong sign of trend reversal. In that case, further rise should be seen to 133.47 resistance for confirmation. On the downside, break of 127.13 will bring retest of 124.61 low instead.

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.

EUR/JPY rose to as high as 140.36 last week and the break of 139.99 resistance should confirm up trend resumption. Initial bias stays on the upside this week for 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28. On the downside, below 138.18 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 132.63 support holds, in case of deep pull back.

In the long term picture, current rally could be resuming whole rise from 94.11 (2012 low). Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 132.63 support holds.

Daily Pivots: (S1) 140.02; (P) 140.56; (R1) 141.63; More….

Intraday in EUR/JPY neutral with current recovery. On the upside, above 141.77 minor resistance will turn bias back to the upside for retesting 144.23. On the downside, below 139.37 will resume the fall from 144.23 to 55 day EMA (now at 137.16).

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). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will now remain bullish as long as 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 116.41; (P) 117.07; (R1) 117.78; More….

Focus is now on 115.86/116.12 support zone in EUR/JPY. Decisive break there will resume larger down trend. Next near term target will be 100% projection of 122.78 to 116.12 from 121.14 at 114.39. On the upside, though, break of 118.87 minor resistance will argue that consolidation from 115.86 is extending with another rising leg. Intraday bias will be turned back to the upside for 121.14 resistance.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). As long as 122.87 resistance holds, the down trend should extend to 109.48 (2016 low). However, sustained break of 122.87 will complete a double bottom (115.86, 116.12) which could indicate medium term bullish reversal.

Daily Pivots: (S1) 116.89; (P) 117.44; (R1) 117.87; More…..

Intraday bias in EUR/JPY remains neutral at this point and further rise is mildly in favor. On the upside, break of 118.52 will resume the rebound from 114.42 and target 121.14 resistance next. However, break of 116.85 resistance turned support, and sustained trading below 4 hour 55 EMA (now at 117.03), will argue the rebound has completed. Intraday bias will be turned back to the downside for 115.32 support for confirmation.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 127.39; (P) 128.22; (R1) 128.86; More….

EUR/JPY’s rebound from 124.37 resumed by breaking 129.01 temporary top. Intraday bias is back on the upside. Sustained trading above 55 day EMA (now at 129.30) will argue that correction from 134.11 has completed, and bring stronger rally to retest this high. On the downside, though, below 127.40 minor support will turn bias back to the downside for 124.37 support instead.

In the bigger picture, outlook is neutral at best for now until there is clear sign of up trend resumption. Corrective pattern from 134.11 could still extend further, sideway or downward. Break of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 127.16; (P) 127.65; (R1) 128.17; More….

Intraday bias in EUR/JPY stays neutral at the moment. While rebound from 124.61 might extend, upside should be limited by 128.94 support turned resistance to bring reversal. On the downside, , below 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD and firm break of the medium term channel support. Focus is now on 124.08 resistance turned support. Decisive break there will confirm this bearish case and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

Daily Pivots: (S1) 125.32; (P) 125.69; (R1) 126.00; More….

EUR/JPY is staying in consolidation from 126.75 and intraday bias remains neutral first. Downside of retreat should be contained above 124.31 support to bring another rally. On the upside, break of 126.75 will target 100% projection of 114.42 to 124.43 from 119.31 at 129.32. Nevertheless, break of 124.31 will indicate short term topping and turn bias to the downside for pull back.

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 55 day EMA (now at 122.54) 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) 119.97; (P) 120.15; (R1) 120.50; More….

A temporary low is formed at 119.80 and intraday bias in EUR/JPY is turned neutral for consolidations. Upside should be limited by 121.26 minor resistance to bring another decline. The corrective rise from 115.86 should be completed at 122.87, on bearish divergence condition in daily MACD Break of 119.80 will target a rest on 115.86 low. However, break of 121.26 will dampen this bearish view and turn focus back to 122.87 high.

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. 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) 152.22; (P) 152.95; (R1) 154.29; More….

EUR/JPY accelerates to as high as 154.63 so far today. There is no sign of topping after breaking 153.63 medium term projection level. Intraday bias stays on the upside for 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, below 153.08 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 114.42 (2020 low) is in progress. 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64 is already met but there in no sign of topping. Further rally should be seen to 100% projection at 162.82 next. For now, medium term outlook will remain bullish as long as 148.38 resistance turned support holds, even in case of deep pull back.

EUR/JPY’s corrective fall extended lower to 119.24 last week, but recovered strongly ahead of 119.11 support. Initial bias remains neutral this week first. We’d still expect downside to be contained by 119.11 to bring rise resumption. On the upside, break of 120.63 minor resistance will turn bias to the upside for 121.46 first. Break will resume whole rise from 115.86 to 123.35 structural resistance. However, firm break of 119.11 will argue that rise from 115.86 has completed. Intraday bias will be turned to the downside for 117.07 support.

In the bigger picture, a medium term bottom should be formed at 115.86, on bullish convergence condition in daily MACD, ahead of 114.84 support. Decisive of 120.78 support turned resistance will affirm this case and bring further rise to falling channel resistance (now at 125.32). Reactions from there would decide whether the medium term trend has reversed. For now, further rise is expected as long as 117.07 support holds.

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 (now at 125.93), this is the preferred case.

Daily Pivots: (S1) 147.43; (P) 147.80; (R1) 148.39; More….

Intraday bias in EUR/JPY remains neutral first, but further decline is in favor as long as 149.25 resistance holds. Sustained trading below 55 D EMA (now at 146.01) will bring deeper pull back to 61.8% retracement of 139.05 to 151.60 at 143.84. On the upside, though, firm break of 149.25 will turn bias back to the upside for retesting 151.60 high instead.

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.