Daily Pivots: (S1) 157.44; (P) 157.89; (R1) 158.38; More….

Intraday bias in EUR/JPY remains neutral as range trading continues. Deeper decline will remain in favor as long as 158.64 resistance holds. On the downside, break of 156.57 support, and sustained trading below 55 D EMA (now at 157.02) will argue that fall from 159.75 is a larger scale correction. Deeper decline would be seen back towards 151.39 support. Nevertheless, above 158.64 would bring retest of 159.75 high instead.

In the bigger picture, as long as 151.39 support holds, rise from 114.42 (2020 low) is still expected to continue. 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.

Daily Pivots: (S1) 128.76; (P) 129.19; (R1) 129.82; More….

EUR/JPY is sting in range below 130.33 resistance and intraday bias remains neutral for the moment. On the upside, break of 130.33 will resume the rebound from 124.61. And by then, EUR/JPY should have also taken out near term falling channel decisively. That would be a strong sign of trend reversal. In that case, further rise should be seen to 133.47 resistance for confirmation. On the downside, break of 127.13 will bring retest of 124.61 low instead.

In the bigger picture, for now, EUR/JPY is holding above 124.08 key resistance turned support. Fall from 137.49 could be proven to be a correction. Decisive break of 133.47 resistance will confirm its completion and should extend the rise from 109.03 (2016 low) through 137.49 high. However, firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

Daily Pivots: (S1) 120.30; (P) 121.11; (R1) 121.56; More…..

EUR/JPY’s corrective fall from 124.42 extended to as low as 120.25. It recovered after breaching 38.2% retracement of 114.42 to 124.43 at 120.60. But there is no clear sign of bottoming yet. Sustained trading below 120.60 will pave the way to 61.8% retracement at 118.24. On the upside, though, break of 122.51 minor resistance will turn bias back to the upside for retesting 124.43.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

EUR/JPY dropped further to 123.31 last week and the development suggests that it’s now correcting whole rise from 114.42. As a temporary low was formed at 123.31, initial bias is neutral this week first. Upside of recovery should be limited by 125.01 minor resistance to bring another decline. On the downside, break of 123.31 will target 38.2% retracement of 114.42 to 127.07 at 122.23. Nevertheless, break of 125.01 will turn bias back to the upside for retesting 127.07 high.

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.

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.

Daily Pivots: (S1) 124.08; (P) 124.29; (R1) 124.52; More…

Intraday bias in EUR/JPY stays mildly on the upside for 125.80/126.09 resistance zone. Decisive break of 126.09 will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. In case of another fall as consolidation from 125.80 extends, we’d still expect strong support from 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rebound and then rise resumption.

In the bigger picture, focus is staying on 126.09 support turned resistance. Decisive break there will confirm completion of the down trend from 149.76. And in such case, rise from 109.20 is at the same degree and should target 141.04 resistance and above. Meanwhile, rejection from 126.09 and break of 114.84 will extend the fall from 149.76 through 109.20 low.

Daily Pivots: (S1) 124.10; (P) 124.37; (R1) 124.61; More….

Intraday bias in EUR/JPY is neutral so far with today recovery. But further fall is mildly in favor as long as 125.01 resistance holds. Decline from 127.50 should extend to 61.8% retracement of 118.62 to 127.50 at 122.01. However, break of 125.01 will turn bias back to the upside for 126.78/127.50 resistance zone.

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 127.73). 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) 128.86; (P) 129.35; (R1) 130.22; More….

EUR/JPY’s rebound from 124.61 extends to as high as 130.12 so far today and intraday bias remains on the upside. As noted, the three wave structure of the fall from 133.47 to 124.61 suggests it’s a correction. And larger rally is not completed. Break of 131.34 resistance will pave the way to retest 133.47 high next. On the downside, break of 127.78 support is now needed to indicate completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, as long as 124.08 resistance turned support holds, medium term rise from 109.03 (2016 low) is still in progress and another high above 137.49 would be seen. Nonetheless, considering bearish divergence condition in daily MACD, decisive break of 124.08 will confirm medium term reversal and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

Daily Pivots: (S1) 122.48; (P) 122.95; (R1) 123.32; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 122.48 temporary low. 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.

EUR/JPY rose further to as high as 144.71 last week, and break of 144.26 indicates resumption of larger up trend. But as a temporary top was formed, initial bias is turned neutral for consolidation this week. Downside of retreat should be contained well above 138.68 support. On the upside, break of 144.71 will target 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67 next.

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) 129.90; (P) 130.09; (R1) 130.33; More….

EUR/JPY is staying in the consolidation pattern from 130.65, and intraday bias remains neutral. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42. On the downside, below 128.28 will extend the correction from 130.65. But downside should be contained above 127.48 resistance turned support to bring rise resumption.

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).

EUR/JPY reversed after initial rise to 171.58 last week and fell sharply. Initial bias remains on the downside this week. Sustained break of 55 D EMA (now at 163.94) will extend the fall from 171.58 to 61.8% retracement of 153.15 to 171.58 at 160.19. On the upside, above 167.37 will turn bias neutral.

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 157.53) 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.

In the long term picture, rise from 114.42 (2020 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). 100% projection of 94.11 to 149.76 from 114.42 at 170.07 was already met but there is not signal reversal yet. Firm break of 170.07 will target 138.2% projection at 191.32. This will remain the favored case as long as 153.15 support holds.

Daily Pivots: (S1) 120.63; (P) 121.01; (R1) 121.75; More….

EUR/JPY rebounded strongly ahead of 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05). But upside is limited below 122.65 so far. Intraday bias remains neutral first. With 119.99 intact, near term outlook stays bullish for further rally. On the upside, break of 122.65 will resume rise from 115.86 to medium term channel resistance. On the downside, Sustained break of 119.99 will bring deeper fall to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 143.61; (P) 144.40; (R1) 145.14; More….

Intraday bias in EUR/JPY is back on the downside with break of 144.32 minor support. Corrective pattern from 148.38 is extending with another falling leg. Deeper decline would be seen to 142.54 support next. For now, risk will stay on the downside as long as 146.12 resistance holds, in case of recovery.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through 148.38 to 149.76 (2014 high). However, break of 137.32 support argue that a medium term correction has already started to correct the whole up trend from 114.42.

Daily Pivots: (S1) 142.89; (P) 143.46; (R1) 143.91; More….

EUR/JPY dips notably as correction from 145.62 extends. Intraday bias stays neutral at this point. 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 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 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.

Daily Pivots: (S1) 116.27; (P) 116.74; (R1) 117.05; More….

Further decline remains mildly in favor in EUR/JPY with 117.41 minor resistance intact. Focus stays on 115.86/116.12 support zone. Decisive break there will confirm larger down trend resumption. On the upside, break of 117.41 minor resistance will turn intraday bias to the upside, and extend consolidation form 115.86 with another rising 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 below 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.

EUR/JPY rebounded strongly last week but failed to take out 125.13 resistance. The development mixed up the near term outlook and initial bias stays neutral this week first. On the upside, firm break of 125.13 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, to extend the pattern 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. However, firm break of 119.31 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) 124.14; (P) 124.42; (R1) 124.83; More…

EUR/JPY rises notably today but it’s staying below 125.80 resistance so far. Intraday bias stays neutral first as the consolidation from 125.80 might extend. Below 123.65 minor support will bring another falling leg towards 122.39. In that case, downside should be contained by 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rebound and then rise resumption. On the upside, decisive break of 125.80/126.09 resistance zone will extend the whole rise from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89.

In the bigger picture, focus is staying on 126.09 support turned resistance. Decisive break there will confirm completion of the down trend from 149.76. And in such case, rise from 109.20 is at the same degree and should target 141.04 resistance and above. Meanwhile, rejection from 126.09 and break of 114.84 will extend the fall from 149.76 through 109.20 low.

Daily Pivots: (S1) 129.83; (P) 130.20; (R1) 130.49; More….

Outlook in EUR/JPY is unchanged for now and intraday bias remains neutral first. On the upside, break of 131.07 resistance will argue that choppy fall from 134.11 has completed. Intraday bias will be turned back to the upside for 132.68 resistance first. On the downside, break of 128.58 will resume the fall from 134.11, and target 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.

Daily Pivots: (S1) 120.28; (P) 120.88; (R1) 121.50; More…..

EUR/JPY is staying in consolidation from 119.31 and intraday bias remains neutral first. Further decline is in favor with 122.11 minor resistance intact. On the downside, break of 119.31 will resume the fall from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24. However, break of 122.11 will turn bias back to the upside for retesting 124.43 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 119.39) 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) 128.98; (P) 129.97; (R1) 130.51; More….

EUR/JPY’s break of 129.56 minor support suggests temporary toping at 130.86. Intraday bias is turned neutral first. As long as 38.2% retracement of 124.89 to 130.86 at 128.57 holds, another rise is mildly in favor. Above 130.86 will target resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. Break will indicate larger bullish reversal. However, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61 low.

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.