Daily Pivots: (S1) 138.28; (P) 139.28; (R1) 139.88; More….

EUR/JPY’s fall from 145.62 extended lower today. Break of 138.38 support raises the chance of larger reversal. Intraday bias stays on the downside for 133.38 support next. On the upside, above 140.25 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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 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.

EUR/JPY’s fall from 133.44 resumed last week after some recovery. Initial bias is now on the downside this week with focus on 127.91 support. Firm break there will resume whole pattern from 134.11 and target 126.58 fibonacci level. Sustained break there will carry larger bearish implications. On the upside, however, break of 129.59 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rebound 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.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Long term outlook will remain neutral until breakout from the range of 109.03/137.49.

Daily Pivots: (S1) 131.55; (P) 131.85; (R1) 132.32; More….

At this point, EUR/JPY is still struggling to take out 131.65 key support decisively. Intraday bias stays neutral first. As noted before. Sustained break of 131.65 will confirm rejection from 134.20 fibonacci level and confirm near term reversal. And, in such case, intraday bias will be turned to the downside for 127.55 key support level. Meanwhile, in case of another rise, decisive break of 134.39/48 resistance zone is needed to confirm up trend resumption. Otherwise, even in case of rebound, near term outlook is neutral at best.

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 back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 138.24; (P) 139.00; (R1) 140.01; More….

Intraday bias in EUR/JPY remains neutral for the moment. 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) 131.52; (P) 131.69; (R1) 131.84; More….

Range trading continues in EUR/JPY and intraday bias remains neutral at this point. On the downside, break of 131.21 support will likely extend the correction from 134.11 through 130.02. But in this case, we’d expect strong support from 38.2% retracement of 121.63 to 134.11 at 129.34 to bring rebound. On the upside, break of 132.68 will bring retest of 134.11 high instead.

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) 128.74; (P) 129.06; (R1) 129.35; More….

Consolidation from 129.96 is still extending and intraday bias in EUR/JPY remains neutral first. Further rise is expected with 127.48 support intact. On the upside, above 129.96 will resume the up trend from 121.63 to 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. However, firm break of 127.48 will turn bias to the downside, for deeper decline to 125.07 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 125.07 support holds. Sustained trading above 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 will pave the way to 137.49 resistance next.

Daily Pivots: (S1) 157.45; (P) 157.85; (R1) 158.47; More….

Intraday bias in EUR/JPY remains neutral at this point. Risk will stay mildly on the downside as long as 159.47 short term top holds. Break of 156.85 will resume the corrective fall to 55 D EMA (now at 155.87) and possibly below.

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) 130.99; (P) 131.55; (R1) 131.85; More….

Intraday bias in EUR/JPY remains on the downside as fall from 133.47 is still in progress. As noted before, corrective rise from 128.94 has completed at 133.47 already. Deeper decline is expected to retest 128.94 low next. And, break there will resume whole fall from 137.49. On the upside, above 132.53 minor resistance will delay the bearish case. Intraday bias would be turned to the upside to extend the rebound from 128.94. Still, 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) 128.11; (P) 128.59; (R1) 129.32; More….

EUR/JPY’s strong rebound from 127.85 argues that fall from 130.86 might be completed. And, the three wave corrective structure in turn suggests that rise from 124.89 is still in progress. On the upside, break of 129.97 will target 130.86 first. Break will confirm this bullish case and target key fibonacci resistance at 132.56. On the downside, though, break of 127.85 will extend the fall from 130.86 instead.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 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.

Daily Pivots: (S1) 128.01; (P) 128.50; (R1) 128.83; More….

EUR/JPY is staying in range of 127.49/129.29 and intraday bias remains neutral for the moment. On the downside, break of 127.49 will target 126.63 support 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) could still resume. 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) 117.49; (P) 117.84; (R1) 118.15;  More….

Intraday bias in EUR/JPY remains neutral with focus on 117.55 minor support. Firm break there will suggest completion of rebound from 115.86. Intraday bias will be turned to the downside for retesting 115.86 first. On the upside, break of 120.01 will resume the rebound through 61.8% retracement of 123.35 to 115.86 at 120.48.

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) 142.61; (P) 143.34; (R1) 144.70; More….

Intraday bias in EUR/JPY remains mildly on the upside. Rise from 137.32 should target retesting 145.62 high. Firm break there will resume larger up trend. On the downside, 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.

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.

Daily Pivots: (S1) 117.72; (P) 118.26; (R1) 118.75; More….

Intraday bias in EUR/JPY remains neutral with focus on 117.55 minor support. Break will suggest completion of rebound from 115.86. Intraday bias will be turned to the downside for retesting 115.86 first. On the upside, break of 120.01 will resume the rebound through 61.8% retracement of 123.35 to 115.86 at 120.48.

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) 124.37; (P) 124.68; (R1) 125.10; More….

EUR/JPY is losing some upside momentum. But intraday bias still stay on the upside for 1.8% projection of 114.42 to 124.43 from 119.31 at 125.49. Break will pave the way to 100% projection at 129.32. On the downside, break of 123.01 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

EUR/JPY rose to 133.44 last week but retreated notably since then. Initial bias is now mildly on the downside this week for deeper pull back to 55 day EAM (now at 130.38). On the upside, above 133.44 will target 134.11 high first. Firm break there will resume larger up trend from 114.42. Next target is 61.8% projection of 121.63 to 134.11 from 127.91 at 135.62.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). Next target will be 100% projection of 109.03 to 137.49 from 114.42 at 142.88. This will now remain the favored case as long as 127.91 support holds.

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) 155.49; (P) 156.20; (R1) 157.33; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 156.92 is extending. Further rally would remain in favor as long as 154.30 minor support holds. Above 156.92 will resume larger up trend to 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, break of 154.03 will turn bias back to the downside for deeper pull back.

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 138.81 at 162.82. For now, medium term outlook will remain bullish as long as 148.38 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 126.32; (P) 126.76; (R1) 127.01; More….

Intraday bias in EUR/JPY is turned neutral as it retreated after failing to break through 127.48 resistance. On the upside, decisive break of 127.48 will resume larger rise from 114.42, to 128.67 fibonacci level. On the downside, break of 126.26 minor support will delay the bullish case. Intraday bias will be turned back to the downside for 125.07 to extend the consolidation from 127.48 with another falling leg.

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.

Daily Pivots: (S1) 132.62; (P) 133.58; (R1) 134.10; More….

EUR/JPY’s decline from 136.63 is still in progress and intraday bias remains on the downside for 132.04 support. Decisive break there will confirm medium term trend reversal. On the upside, above 134.03 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 136.63 holds.

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). It should now be targeting 141.04/149.76 resistance zone. On the downside, break of 132.04 support is needed to indicate medium term reversal. Otherwise, outlook will stay bullish in case of deep pull back.

Daily Pivots: (S1) 128.51; (P) 129.08; (R1) 129.68; More…

Intraday bias in EUR/JPY remains neutral for consolidation below 130.76 temporary top. Near term outlook remains bullish as long as 127.99 support holds. Above 130.76 will target 100% projection of 114.84 to 125.80 from 122.39 at 133.35 next. However, considering bearish divergence condition in 4 hour MACD, break of 127.99 will bring deeper pull back 55 day EMA (now at 125.24).

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 would now target 61.8% retracement of 149.76 to 109.03 at 134.20 and above. Medium term outlook will remain bullish as long as 122.39 support holds.

Daily Pivots: (S1) 124.16; (P) 124.55; (R1) 124.75; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 125.58 is extending. Further rise is still mildly in favor as long as 123.01 support holds. On the upside, firm break of 125.58 will target 100% projection of 114.42 to 124.43 from 119.31 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 122.11) 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 137.49 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 121.81) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.