Daily Pivots: (S1) 156.87; (P) 157.30; (R1) 158.01; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Sustained trading below 55 D EMA (now at 156.57) will argue that fall from 159.75 is a larger scale correction. Deeper fall would be seen back towards 151.39 support. On the upside, break of 159.75 will resume larger up trend to 163.06 projection target.

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) 126.59; (P) 126.83; (R1) 127.02; More….

EUR/JPY’s consolidation from 127.48 is still extending and intraday bias remains neutral. 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 recovered to 125.23 last week but failed to sustain above 4 hour 55 EMA and reversed. The development is inline with the view that fall from 126.79, which is the third leg of pattern from 127.50, is still in progress. Initial bias stays neutral this week first with focus on 124.09. Break there will turn bias to the downside for 123.65 and below. On the upside, however, break of 125.23 resistance will now suggest short term bottoming and turn bias back to the upside.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. Break of 123.39 support will favor of down trend extension and target 118.62 low. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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. Break of 118.62 will extend this falling leg through 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

Daily Pivots: (S1) 156.69; (P) 157.54; (R1) 158.20; More….

Intraday bias in EUR/JPY stays mildly on the downside for the moment. Fall from 159.47 short term top should target 55 D EMA (now at 155.69) first. For now, risk will stay mildly on the downside as long as 159.47 holds, in case of recovery.

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.

Daily Pivots: (S1) 158.41; (P) 158.88; (R1) 159.21; More….

EUR/JPY continues to lose upside momentum as seen in 4H MACD. But with 158.17 minor support intact, intraday bias stays on the upside. Current up trend should target 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next. On the downside, below 158.17 minor support will turn bias neutral again and bring more consolidations.

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.

Daily Pivots: (S1) 139.93; (P) 140.29; (R1) 140.62; More….

Intraday bias in EUR/JPY neutral as consolidation from 138.79 is extending. Further decline will remain in favor as long as 141.60 minor resistance holds. Firm break of 100% projection of 148.38 to 140.75 from 146.71 at 139.08 will pave the way to 161.8% projection at 134.36. However, break of 141.60 will bring stronger rebound 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.

EUR/JPY edged lower to 115.86 last week but recovered strongly since then. A short term bottom should be formed on bullish convergence condition in 4 hour MACD. Further rise is expected this week as long as 117.28 minor support holds. 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 11.7.28 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.

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. Break of 118.62 should now extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

Daily Pivots: (S1) 167.48; (P) 167.72; (R1) 168.03; More…

Further rise is mildly in favor in EUR/JPY despite loss of momentum as seen in 4H MACD. Rebound from 164.01 is seen as the second leg of the corrective pattern from 171.58, and would target 168.64 resistance. On the downside, break of 166.73 minor support will argue that the third leg has started, and turn bias back to the downside for 164.01.

In the bigger picture, a medium top could be formed at 171.58 after brief breach of 169.96 (2008 high). As long as 55 W EMA (now at 157.89) holds, fall from there is seen as correcting the rise from 153.15 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 153.15 support.

Daily Pivots: (S1) 130.33; (P) 130.74; (R1) 131.05; More….

EUR/JPY’s strong break of 129.99 minor support indicates that recovery from 129.22 has completed at 131.36 already. Intraday bias is turned back to the downside for 128.94 first. Break will resume the corrective fall from 137.49 and target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18, and possibly further to 126.61 medium term fibonacci level. On the upside, break of 131.36 resistance is now needed to indicate near term reversal. Otherwise, outlook will stay bearish in case of recovery.

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) 122.77; (P) 123.38; (R1) 123.74; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral first. Further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support 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 120.80) 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) 131.92; (P) 132.53; (R1) 133.20; More….

EUR/JPY surged to 133.13 but quickly retreated. Intraday bias is turned neutral first. But outlook is unchanged that corrective pattern from 134.11 should have completed three waves down to 127.36. Firm break of 133.44/134.11 resistance zone will resume larger up trend from 114.42. On the downside, however, break of 131.24 minor support will delay dampen this bullish case and turn bias back to the downside for 128.23 support.

In the bigger picture, price actions from 134.11 are currently seen as a consolidation pattern only. 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 bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

Daily Pivots: (S1) 125.39; (P) 125.74; (R1) 126.34; More….

Intraday bias in EUR/JPY remains neutral at this point. As long as 124.31 support holds, further rally is in favor. On the upside, break of 126.75 will resume the rally from 114.42. However, considering bearish divergence condition in daily MACD, firm break of 124.31 should confirm short term topping. Intraday bias will be turned to the downside for 55 day EMA (now at 123.47), to correct the rally from 114.42.

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 123.03) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

EUR/JPY’s up trend continued to 145.62 last week, just inch below 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67. But the cross then turned into consolidations, and initial bias is neutral this week first. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.67 will pave the way to 149.76 long term resistance, and then 100% projection at 153.27.

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) 141.95; (P) 142.40; (R1) 142.99; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, below 140.15 minor support will turn bias back to the downside 137.37 low. break there will resume the decline from 148.38 to 135.40 fibonacci level. However, considering bullish convergence condition in 4 hour MACD, break of 142.92 will argue that the correction from 148.38 might have completed. Intraday bias will be turned back to the upside for 146.71 resistance.

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) 117.53; (P) 117.93; (R1) 118.53; More…..

EUR/JPY’s rise from 114.42 resumes today by taking out 118.52 temporary top. Intraday bias is back on the upside. Current rise should at least be corrective the fall from 122.87. Next target will be 121.14 resistance first. On the downside, though, break of 117.11 support will suggest completion of the rebound and turn bias back to the downside.

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) 130.24; (P) 130.64; (R1) 130.85; More….

EUR/JPY’s break of 130.02 confirms resumption of whole correction from 121.63. Deeper decline would be seen to 38.2% retracement of 121.63 to 134.11 at 129.34 support. We’d look for strong support from there to bring rebound. On the upside, above 131.02 minor resistance will turn bias 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. 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) 122.34; (P) 122.91; (R1) 123.27; More….

EUR/JPY is staying in consolidation from 122.48 temporary low and intraday bias remains neutral first. In case of stronger recovery, upside should be limited by 124.09/125.29 resistance zone to bring fall resumption. Current development suggests that rebound from 118.62 has completed at 127.50 already. On the downside, break of 122.48 will target retest of 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

Daily Pivots: (S1) 124.82; (P) 125.20; (R1) 125.74; More….

Intraday bias in EUR/JPY is turned neutral as it formed a temporary top after hitting 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. Some consolidations could be seen but further rise is expected as long as 123.01 support holds. Break of 125.58 will target 100% projection at 129.32. However, break of 123.01 support will now confirm short term topping. In this case, deeper fall would be seen to 55 day EMA (now at 121.81) to correct the whole rise from 114.42.

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 121.32) 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) 130.33; (P) 130.74; (R1) 131.05; More….

Sharp fall in EUR/JPY dragged 4 hour MACD below signal line. Intraday bias is turned neutral first. Consolidation from 129.22 could extend. But even in case of another rise, we’d expect strong resistance below 133.47 resistance to bring fall resumption. Below 129.99 minor support will turn bias back to the downside for 128.94. Break will resume the corrective fall from 137.49 and target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18 next.

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) 116.21; (P) 116.72; (R1) 117.66; More…..

EUR/JPY’s rebound from 114.42 resumed today and hits as high as 117.65 so far. Focus is now on 117.77 resistance. Decisive break there will confirm short term bottoming. Further rise would be seen back to 121.14 resistance next. Rejection by 117.77 will retain near term bearishness. Break of 115.32 support will bring retest of 114.42 low first.

In the bigger picture, the down trend from 137.49 (2018 high) is still in progress. EUR/JPY continues to stay 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.