EUR/JPY’s strong rebound from 124.37 accelerated further last week. The development argues that whole corrective pattern from 134.11 has completed already. Initial bias stays on the upside for retesting 133.13/134.11 resistance zone first. Decisive break there will resume larger up trend. However, break of 130.01 minor support will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of 124.37 will target 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. Long term outlook will remain neutral until breakout from the range of 109.03/137.49.

Daily Pivots: (S1) 130.88; (P) 131.40; (R1) 132.06; More….

Intraday bias in EUR/JPY remains on the upside for the moment. The corrective pattern from 134.11 could have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone next. On the downside, break of 130.01 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 129.16; (P) 129.60; (R1) 129.91; More….

EUR/JPY’s rise from 124.37 continues today and intraday bias stays on the upside. The corrective pattern from 134.11 could have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone next. On the downside, break of 129.30 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 129.16; (P) 129.60; (R1) 129.91; More….

Intraday bias in EUR/JPY remains mildly on the upside and outlook is unchanged. With break of 55 day EMA, the corrective pattern from 134.11 might have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone. This will now be the mildly favored case as long as 127.40 minor support holds. Nevertheless, break of 127.40 will bring retest of 124.37 instead.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 128.33; (P) 129.02; (R1) 130.00; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. With break of 55 day EMA, the corrective pattern from 134.11 might have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone. This will now be the mildly favored case as long as 127.40 minor support holds. Nevertheless, break of 127.40 will bring retest of 124.37 instead.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

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) 127.39; (P) 128.22; (R1) 128.86; More….

Intraday bias in EUR/JPY remains neutral at this point. 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 126.28 minor support will turn bias back to the downside for 124.37 support.

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.

EUR/JPY rebounded strongly after edging lower to 124.37. But as a temporary top was formed at 129.01, initial bias is neutral this week first. 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 126.28 minor support will turn bias back to the downside for 124.37 support.

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.

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) 127.07; (P) 127.97; (R1) 128.51; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. Fall from 133.13 could have completed at 124.37 already. Further rise would be seen to 130.27 resistance. Break there will target 133.13 structural resistance next. On the downside, break of 126.28 minor support will revive near term bearishness and target 124.37 low again.

In the bigger picture, the break of 127.36 support turned resistance mixed up the medium term outlook. But still, 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) 126.71; (P) 127.59; (R1) 129.17; More….

EUR/JPY’s break of 127.90 support turned resistance argues that fall from 133.13 has completed at 124.37 already. Intraday bias is mildly on the upside for 130.27 resistance first. Break there will target 133.13 structural resistance next. On the downside, break of 126.28 minor support will revive near term bearishness and target 124.37 low again.

In the bigger picture, the break of 127.36 support turned resistance mixed up the medium term outlook. But still, 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) 125.23; (P) 125.98; (R1) 126.86; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 124.37. Some consolidations could be seen but upside should be limited by 127.90 support turned resistance to bring another fall. On the downside, break of 124.37 will resume the decline from 133.13 to 121.94 medium term fibonacci level.

In the bigger picture, current development suggests that whole rise from 114.42 (2020 low) has completed 134.11 already. Fall from there is developing into a medium term down trend. Next target is 61.8% retracement of 114.42 to 134.11 at 121.94. On the upside, firm break of 127.36 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 124.38; (P) 125.17; (R1) 125.93; More….

Intraday bias in EUR/JPY is turned neutral with a temporary low formed at 124.37. Some consolidations could be seen but upside should be limited by 127.90 support turned resistance to bring another fall. On the downside, break of 124.37 will resume the decline from 133.13 to 121.94 medium term fibonacci level.

In the bigger picture, current development suggests that whole rise from 114.42 (2020 low) has completed 134.11 already. Fall from there is developing into a medium term down trend. Next target is 61.8% retracement of 114.42 to 134.11 at 121.94. On the upside, firm break of 127.36 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 124.48; (P) 126.15; (R1) 127.22; More….

EUR/JPY’s drops to as low as 124.38 so far today. Intraday bias stays on the downside for 121.94 medium term fibonacci level. On the upside, above 126.91 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another fall.

In the bigger picture, current development suggests that whole rise from 114.42 (2020 low) has completed 134.11 already. Fall from there is developing into a medium term down trend. Next target is 61.8% retracement of 114.42 to 134.11 at 121.94. On the upside, firm break of 127.36 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

EUR/JPY dropped sharply to as low as 125.06 last week and there is no sign of bottoming yet. Initial bias stays on the downside this week for 121.94 medium term fibonacci level. On the upside, above 127.28 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another fall.

In the bigger picture, current development suggests that whole rise from 114.42 (2020 low) has completed 134.11 already. Fall from there is developing into a medium term down trend. Next target is 61.8% retracement of 114.42 to 134.11 at 121.94. On the upside, firm break of 127.36 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 127.40; (P) 127.96; (R1) 128.32; More….

Intraday bias in EUR/JPY stays on the downside for 126.58 fibonacci level. Sustained break there will carry larger bearish implications. Meanwhile, on the upside, above 128.75 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 130.27 resistance holds.

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) 127.62; (P) 128.19; (R1) 129.08; More….

EUR/JPY is losing some downside momentum. But further decline is expected as long as 130.27 resistance holds. Decline from 133.13, as another falling leg of the corrective pattern from 134.11, should target 126.58 fibonacci level next.

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) 128.32; (P) 129.05; (R1) 129.72; More….

EUR/JPY’s fall resumed by breaking through 127.90 and intraday bias is back on the downside. Decline from 133.13, as another falling leg of the corrective pattern from 134.11, should target 126.58 fibonacci level next. For now, risk will remain on the downside as long as 130.27 minor resistance holds, in case of recovery.

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) 128.32; (P) 129.05; (R1) 129.72; More….

Intraday bias in EUR/JPY remains neutral at this point. On the downside, break of 127.90 will resume the decline from 133.13, as another falling leg of the corrective pattern from 134.11, through 127.36 support to 126.58 fibonacci level. For now, risk will remain on the downside as long as 130.27 minor resistance holds.

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) 129.21; (P) 129.75; (R1) 130.77; More….

EUR/JPY dropped sharply after failing to sustain above 4 hour 55 EMA and drops sharply today. On the downside, break of 127.90 will resume the decline from 133.13, as another falling leg of the corrective pattern from 134.11, through 127.36 support to 126.58 fibonacci level. For now, risk will remain on the downside as long as 130.27 minor resistance holds.

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.

EUR/JPY dropped sharply to 127.90 last week but rebounded strongly to close at 130.20. The break of 130.03 support turned resistance argue that the fall from 133.13 might be completed with three waves down to 127.90 Initial bias is mildly on the upside this week first 131.89 resistance first. Break there will target 133.13. On the downside, though, break of 128.70 minor support will turn bias back to the downside, to resume the fall from 133.13 through 127.90.

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.

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.