Daily Pivots: (S1) 130.98; (P) 131.23; (R1) 131.56; More….

EUR/JPY rises further to as high as 131.67 so far today and intraday bias remains on the upside. As noted before, corrective pattern from 134.11 could have already completed at 127.91. Further rally should be seen to retest 134.11 high. On the downside, below 130.73 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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) 131.12; (P) 131.43; (R1) 131.94; More….

No change in EUR/JPY’s outlook. A short term bottom should be in place at 129.34, on bullish convergence condition in 4 hour MACD. Further rise is expected to 38.2% retracement of 137.49 to 129.34 at 132.45. Break will target 61.8% retracement at 134.37. However, decline 137.49 shouldn’t be finished yet. We’d still expect another fall at a later stage. And break of 129.34 will pave the way to 126.61 medium term fibonacci level

In the bigger picture, current development argues that rise from 109.03 has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. On the upside, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

Daily Pivots: (S1) 129.44; (P) 129.81; (R1) 130.47; More….

Intraday bias in EUR/JPY remains neutral first and more consolidative trading could be seen. But further decline is expected as long as 131.07 resistance holds. Break of 128.58 will resume the fall from 134.11. Such decline is seen as correcting whole up trend from 114.42. Deeper fall would be seen to 127.07 resistance turned support next.

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 rebounded further to 118.52 last week but retreated since then. Initial bias remains neutral this week first and further rise is mildly on favor. On the upside, break of 118.52 will target 121.14 resistance next. However, break of 115.32 should confirm completion of rebound from 114.42 and bring retest of this low.

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.

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 124.52), this is the preferred case.

Daily Pivots: (S1) 169.36; (P) 169.65; (R1) 169.97; More…

Further rise is mildly in favor in EUR/JPY despite loss of upside momentum. Rise from164.01, as the second leg of the corrective pattern from 171.58, would target 61.8% projection of 164.01 to 169.38 from 167.31 at 170.62. On the downside, break of 169.05 minor support will intraday bias neutral first. Further break of 167.31 should turn bias back to the downside to start the third leg towards 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 158.70) 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) 119.45; (P) 119.88; (R1) 120.20; More…

EUR/JPY is still bounded in range of 119.32/121.32. Intraday bias remains neutral at this point. On the downside, below 119.32 will extend the corrective fall from 124.08. In that case, we’d expect strong support from 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) to contain downside and bring rebound. On the upside, break of 121.32 minor resistance should revive the case that such correction is completed. And, intraday bias would then be turned back to the upside for 123.30/124.08 resistance zone.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. There is prospect of another rise towards 126.09 key resistance level before completion. But even in that case, we’d expect strong resistance between 126.09 and 141.04 to limit upside, at least on first attempt. Nonetheless, decisive break of 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) will argue that rise from 109.20 is completed and turn outlook bearish for 61.8% retracement at 114.88 and below.

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Daily Pivots: (S1) 130.74; (P) 131.01; (R1) 131.27; More….

Intraday bias in EUR/JPY stays on the upside for the moment. As noted before, corrective pattern from 134.11 could have already completed at 127.91. Further rise should be seen to retest 134.11 high. On the downside, below 130.29 minor support will dampen the bullish case and turn intraday bias neutral 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, deeper fall would be seen to 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 130.22; (P) 130.60; (R1) 131.22; More…

Intraday bias in EUR/JPY remains on the upside for 131.39 high. Correction from 131.39 has completed at 127.55 already, after hitting 55 day EMA. Firm break of 131.39 will resume larger rally and target 61.8% projection of 122.39 to 131.39 from 127.55 at 133.11 next. On the downside, below 129.10 minor support will dampen this bullish view and turn focus back to 127.55 support instead.

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. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.

Daily Pivots: (S1) 127.30; (P) 127.64; (R1) 128.11; More….

Intraday bias in EUR/JPY remains on the upside at this point. Up trend form 114.42 is in progress and should target 128.67 long term fibonacci level next. Sustained break there will confirm medium term upside momentum and target 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. On the downside, break of 127.33 minor support will turn bias neutral and bring some consolidations first.

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. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will indicate solid upside momentum and target 137.49 next. This will remain the favored case as long as 121.63 support holds.

Daily Pivots: (S1) 142.45; (P) 142.97; (R1) 143.91; More….

EUR/JPY is still staying in range below 144.23 and intraday bias remains neutral. On the upside, decisive break of 144.23 will resume larger up trend. On the downside, below 141.39 minor support will bring deeper fall, to extend the corrective pattern from 144.23.

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) 158.15; (P) 159.80; (R1) 161.91; More…

Intraday bias in EUR/JPY stays neutral at this point, and outlook remains bearish with 162.87 resistance intact. On the downside, below 157.71 minor support will turn bias back to the downside. Break of 154.40 will resume the fall from 175.41 to 153.15 support next. However, decisive break of 162.87 will confirm short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 175.41 medium term top should be correcting the whole rise from 114.42 (2020 low). Deeper fall could be seen as long as 55 W EMA (now at 161.79) holds. But strong support should emerge between 153.15 and 38.2% retracement of 114.42 to 175.41 at 152.11 to bring rebound (at least on first attempt). Meanwhile, sustained trading above 55 W EMA will argue that the range of the medium term corrective pattern has already been set.

EUR/JPY stayed in consolidation below 145.55 last week and outlook is unchanged. Initial bias remains neutral this week first. Further rally is expected as long as 142.13 support holds. Corrective fall from 148.38 has completed at 137.37 already. Break of 145.55 will resume the rise from 137.37 to 146.71 resistance and then 148.38 high.

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.

In the long term picture, outlook will stay bullish as long as 134.11 resistance turned support holds (2021 high). Sustained break of 149.76 (2014 high) will open up further rally, as resumption of the rise from 94.11 (2012 low), towards 169.96 (2008 high).

Daily Pivots: (S1) 128.64; (P) 129.03; (R1) 129.70; More….

No change in EUR?JPY’s outlook. As long as 127.88 minor support holds, further rally is expected in EUR/JPY to resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. However, break of 127.88 will argue that the rebound from 124.89 has completed. In that case, intraday bias will be turned back to the downside for 124.61/89 support zone.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might now be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, 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) 128.80; (P) 129.24; (R1) 130.03; More….

EUR/JPY is staying below 130.29 minor resistance despite today’s rebound. Intraday bias remains neutral first. Considering bullish convergence condition in 4 hour MACD, break of 130.29 will in turn suggest completion of fall from 133.12. In this case, intraday bias will be turned back to the upside for retesting 133.12 high. On the downside, break of 128.32 will target 127.85 support first. Break will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low.

In the bigger picture, current development suggests that EUR/JPY could have 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 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.85 will turn focus back to 124.08 key support level.

Daily Pivots: (S1) 156.10; (P) 156.48; (R1) 157.14; More….

Intraday bias in EUR/JPY stays neutral first, as it’s limited below 158.03 resistance despite today’s rally. On the upside, decisive break of 157.99/158.03 will resume larger up trend to 162.82 projection level next. However, break of 155.10 will extend the corrective pattern from 157.99 with another falling leg instead.

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. Deeper decline would be seen to 55 W EMA (now at 145.94).

Daily Pivots: (S1) 144.07; (P) 145.34; (R1) 146.05; More….

Intraday bias in EUR/JPY stays neutral for the moment. On the upside, break of 146.71 will resume the rise from 140.75 to retest 148.38 high. However, on the downside, break of 143.48 will suggest that corrective pattern from 148.38 is still extending. Bias will be back on the downside or 140.75 support, and possibly below.

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) 157.59; (P) 158.07; (R1) 158.45; More….

Intraday bias in EUR/JPY stays neutral for the moment. Outlook is also unchanged that correction from 159.75 should have completed at 154.32. Above 158.60 will resume the rise from 154.32 and target 159.75 high. However, break of 156.50 will dampen this view, and bring another fall to extend the corrective pattern from 159.75.

In the bigger picture, price actions from 159.75 are views as a corrective pattern. As long as 151.39 support holds, rise from 114.42 (2020 low) is expected to continue through 159.75 at a later stage. Nevertheless, firm break of 151.39 will confirm medium term topping, and bring lengthier and deeper correction.

Daily Pivots: (S1) 127.99; (P) 128.22; (R1) 128.44; More….

EUR/JPY is still bounded in range of 127.36/129.09 and intraday bias remains neutral first. On the downside, break of 127.36 will resume larger pattern from 134.11 to 126.58 medium term fibonacci level. We’d look for some support from there to bring rebound. But sustained break of 126.58 will carry larger bearish implications. On the upside, break of 129.09 will bring stronger rebound to 55 day EMA (now at 129.66) and above.

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.

Daily Pivots: (S1) 155.92; (P) 156.85; (R1) 157.46; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. On the upside, sustained break of 157.99 will confirm resumption of larger up trend, and target 162.82 projection level next. Nevertheless, break of 155.57 minor support will bring deeper decline to extend the corrective pattern from 157.99.

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) 130.36; (P) 130.56; (R1) 130.91; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. Further rise is in favor as long as 129.56 support holds. On the upside, firm break of 130.95 will resume larger rise from 114.42 to 100% projection of 114.42 to 127.07 from 121.63 at 134.28. However, on the downside, break of 129.56 support would turn bias to the downside for deeper correction to 128.28 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 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).