EUR/JPY recovered last week and it’s now pressing 139.78 minor resistance. Firm break there 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.

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 134.11 resistance turned support holds.

Daily Pivots: (S1) 136.10; (P) 137.03; (R1) 137.97; More….

EUR/JPY’s break of 138.38 resistance confirms resumption of rebound from 133.38. Intraday bias stays on the upside for 100% projection of 133.38 to 138.38 from 135.50 at 140.50. Decisive break there will indicate upside acceleration, and raise the chance of up trend resumption through 144.26 high. On the downside, below 137.66 minor support will turn intraday bias neutral again.

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) 123.53; (P) 123.92; (R1) 124.17; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, firm break of 125.08 should confirm completion of the corrective decline from 127.07 at 121.63. Further rise should be seen to retest 127.07 high. However, break of 123.18 will turn bias to the downside for 121.63, to extend the correction.

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 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 129.78; (P) 130.27; (R1) 130.67; More….

EUR/JPY’s break of 129.90 argues that rise from 124.61 has completed at 131.97 already, on bearish divergence condition in 4 hour MACD. Intraday bias is back on the downside for 127.13 support first. Break there will confirm this bearish case and target 124.61 low. On the upside, break of 131.97 is now needed to indicate resumption of rise from 127.13. Otherwise, risk will stay mildly on the downside even in case of rebound.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 127.41; (P) 127.93; (R1) 128.35; More….

EUR/JPY’s fall from 133.12 is still in progress. Intraday bias remains on the downside for 124.89 support next. On the upside, above 128.44 minor resistance will turn intraday bias neutral first. But break of 130.20 resistance is needed to indicate completion of the fall from 133.12. Otherwise, near term outlook will now be mildly bearish even in case of recovery.

In the bigger picture, as long as 124.08 key resistance turn supported holds, 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. 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) 116.48; (P) 116.99; (R1) 117.43; More….

No change in EUR/JPY’s outlook as intraday bias stays mildly on the downside for 115.86/33 key support zone. Decisive break there will confirm larger down trend resumption. On the upside, break of 119.03 will extend recent consolidation from 115.86 with another rise leg.

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) 129.96; (P) 130.18; (R1) 130.53; More….

Intraday bias in EUR/JPY stays on the upside or the moment. Current rise from 121.63 should target 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. On the downside, break of 129.02 minor support will turn bias neutral again 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 137.49 (2018 high).

Daily Pivots: (S1) 124.88; (P) 125.18; (R1) 125.47; More….

Upside momentum in EUR/JPY is rather unconvincing as seen in 4 hour MACD. But further rise is still expected with 123.78 support intact. Rebound from 118.62 is in progress for 55 day EMA (now at 126.20). Though, break of 123.78 will indicate completion of the rebound and turn bias back to the downside.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is possibly just the second leg of the corrective pattern from 109.03. Break of 133.12 resistance should start the third leg to 137.49 and above. Nevertheless, break of 118.62 will resume the decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 130.89; (P) 131.34; (R1) 131.79; More….

Intraday bias in EUR/JPY remains neutral at this point. As long as 129.90 minor support holds, further rise is still in favor. Above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 129.90 will indicate short term reversal, with bearish divergence condition in 4 hour MACD, and turn bias back to the downside for 127.13 support.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there as completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 123.27; (P) 123.55; (R1) 124.06; More….

EUR/JPY’s break of 123.66 minor resistance argue that pull back from 125.13 has completed. Intraday bias is turned back to the upside for 125.13 resistance. Decisive break there will revive the case that correction from 127.07 has completed. Further rally would be seen back to retest this high. On the downside, though, break of 122.84 will turn bias back to the downside for 121.63 support instead.

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 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 125.38; (P) 125.76; (R1) 126.11; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 127.07 might extend. Another rise remains in favor as long as 124.44 support holds. Firm break of 127.07 will resume larger rise from 114.42, to 128.67 fibonacci level. However, firm break of 124.44 should, at least, start the correction to such rise from 114.42, and turn bias to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23.

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.

Daily Pivots: (S1) 125.81; (P) 126.15; (R1) 126.33; More….

Intraday bias in EUR/JPY stays neutral at this point. Another rise is expected as long as 125.13 resistance turned support holds. On the upside, decisive break of 127.07 will resume whole rise from 114.42. Next target will be 128.67 medium term fibonacci level. On the downside, however, break of 125.13 resistance turned support will turn bias to the downside, to extend the consolidation from 127.07 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 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. Sustained trading above there will target 137.49 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY stayed in range trading last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, break of 138.38 resistance will resume the rebound from 133.38 towards 142.31 resistance. On the downside, break of 134.93 will turn bias back to the downside for 133.38 support. Overall, corrective pattern from 144.26 could extend further with more choppy trading.

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.

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 128.86) holds.

EUR/JPY stayed in range of 137.37/142.84 last week and outlook is unchanged. Further decline is mildly in favor. Break of 137.37 will resume the whole fall from 148.38 to 135.40 fibonacci level. On the upside, however, break of 142.84 will argue that the correction from 148.38 has completed at 137.37 already. Further rise would be seen to 146.71 resistance next.

In the bigger picture, as long as 55 week EMA (now at 138.87) 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).

EUR/JPY gyrated higher last week but after all, it’s staying in consolidation from 127.48. Initial bias remains neutral this week first. In case of another fall, downside should be contained by 125.07 support to bring rebound. On the upside, firm break of 127.48 will resume larger rise from 114.42, and target 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.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Another rising leg could have started for 137.49 resistance and above.

Daily Pivots: (S1) 125.80; (P) 125.94; (R1) 126.14; More….

EUR/JPY breached 125.61 support but recovered quickly. Intraday bias stays neutral first. On the downside, decisive break of 125.61 resistance turned support will indicate completion of rebound from 123.56. And consolidation from 127.50 is staring the third leg. Intraday bias will then be turned down to the downside for 123.65 support. On the upside, though, above 126.79 will target 127.50 key resistance.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. 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.

Daily Pivots: (S1) 128.42; (P) 128.64; (R1) 129.01; More….

EUR/JPY continues to recovery today but it’s staying in range of 127.49/129.29. Intraday bias remains neutral first. 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 stronger 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) 123.97; (P) 124.35; (R1) 124.66; More….

EUR/JPY is staying in consolidation from 132.82 temporary low and intraday bias remains neutral. Further fall is expected with 125.68 minor resistance intact. On the downside, break of 123.82 will resume the fall from 127.50 to 61.8% retracement of 118.62 to 127.50 at 122.01. However, break of 125.68 will bring stronger rebound back to 127.50 resistance.

In the bigger picture, rebound from 118.62 might have completed earlier than expected at 127.50. EUR/JPY is held well inside medium term falling channel, and below 55 week EMA (now at 127.86). That is, the down trend from 137.49 (2018 high) might still be in progress. Break of 118.62 will target 109.03/114.84 long term support zone. On the upside, however, break of 127.50 will extend the rebound from 118.62 to 133.12 key resistance instead.

Daily Pivots: (S1) 124.42; (P) 124.96; (R1) 125.57; More….

EUR/JPY’s strong break of 125.58 indicates resumption of whole rise from 114.42. Intraday bias is back on the upside. Next target is 100% projection of 114.42 to 124.43 from 119.31 at 129.32. On the downside, break of 124.31 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 137.49 (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.

Daily Pivots: (S1) 154.84; (P) 155.59; (R1) 156.11; More…

Intraday bias in EUR/JPY remains neutral as range trading continues. On the upside, above 158.55 will resume the corrective rebound from 153.15. 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.