Daily Pivots: (S1) 137.23; (P) 137.73; (R1) 138.67; More….

EUR/JPY’s break of 138.33 resistance suggests that pull back from 139.99 has completed, and larger up trend is resuming. Intraday bias stays on the up side for 139.99 first. Firm break there will confirm and target 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28. On the downside, below 136.79 minor support will delay the bearish case and turn intraday bias again first.

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). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.

EUR/JPY was bounded in range trading last week. Initial bias stays neutral this week first. On the downside, below 148.58 will extend the corrective pattern from 151.60 with another falling leg. Deeper fall would be seen to 146.12 support and possibly below. On the upside, however, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 139.05 support holds, even in case of deep pull back.

In the long term picture, break of 149.76 (2014 high) argues that whole up trend form 94.11 (2012 low) is resuming. Sustained trading above 149.76 will pave the way to 100% projection of 94.11 to 149.76 from 109.03 at 164.68, which is close to 169.96 (2008 high).

Daily Pivots: (S1) 123.87; (P) 124.22; (R1) 124.53; More….

EUR/JPY’s rebound lost momentum after hitting 124.57, below 125.13 resistance. Intraday bias is turned neutral again. 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.

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) 120.05; (P) 120.34; (R1) 120.53; More…..

Intraday bias in EUR/JPY remains neutral first. With 122.11 resistance intact, fall from 124.43 is still in favor to continue. Break of 119.31 will target 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 119.22) 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) 123.58; (P) 124.30; (R1) 124.75; More….

EUR/JPY’s fall continues to as low as 123..31 so far today. With a head and shoulder top formed, decline from 127.07 should be correcting the whole rise from 114.42. Intraday bias stays on the downside for 38.2% retracement of 114.42 to 127.07 at 122.23. On the downside, above 125.01 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 127.07 resistance holds, even in case of strong recovery.

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) 117.53; (P) 118.02; (R1) 118.32; More…..

EUR/JPY’s break of 117.36 suggests temporary topping at 118.52 and intraday bias is turned neutral first. Another rise could still be seen as long as 115.32 support holds. 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, the down trend from 137.49 (2018 high) is still in progress. EUR/JPY continues to stay 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.

EUR/JPY edged higher to 124.53 last week but lost momentum after breaching 124.08 resistance. Considering bearish divergence condition in 4 hour MACD, a short term top could be in place. Initial bias is neutral stays neutral this week first. Break of 122.92 minor support will bring deeper pull back towards 38.2% retracement of 114.84 to 124.53 at 120.82 and bring rise resumption. We’re holding on to the view that whole rally from 109.03 is resuming. Break of 124.53 will target 126.09 key resistance next. Break there will pave the way to 100% projection of 109.03 to 124.08 from 114.84 at 129.89.

In the bigger picture, focus is back 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.

In the long term picture, medium term decline from 149.76 is seen as part of a long term sideway pattern from 88.96. We’re not seeing any sign of an established long term trend yet. Hence, we’ll be cautious on strong support at 94.11 in case of another fall. Also, there could be strong resistance at 149.76 in case of a medium term rise.

EUR/JPY’s decline from 133.47 accelerated to as low as 129.89 last week. The development is in line with the view that corrective rise from 128.94 has completed at 133.47. And, fall from 137.49 is possibly resuming. Initial bias remains on the downside this week for 128.94 low first. Break will target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18 next. On the upside, above 131.13 minor resistance will turn bias neutral and bring recovery. But upside should be limited well below 133.47 resistance to bring another decline.

In the bigger picture, for now, price actions from 137.49 are viewed as a corrective pattern only. Hence, while, deeper decline would be seen, strong support is expected at 38.2% retracement of 109.03 to 137.49 at 126.61 to contain downside and bring rebound. Up trend from 109.03 (2016 low) is expected to resume afterwards. Though, sustained break of 126.61 will be an important sign of trend reversal and will turn focus to 124.08 resistance turned support.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

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.

EUR/JPY edged higher to 125.80 last week but formed a short term top there, on bearish divergence condition in 4 hour MACD, ahead of 126.09 resistance. Initial bias remains neutral this week for more consolidation. Another fall cannot be ruled out, but downside should be contained by 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rise resumption. We’re staying mildly bullish in the cross. And, break of 126.09 key resistance will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89.

In the bigger picture, focus is back 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.

In the long term picture, medium term decline from 149.76 is seen as part of a long term sideway pattern from 88.96. We’re not seeing any sign of an established long term trend yet. Hence, we’ll be cautious on strong support at 94.11 in case of another fall. Also, there could be strong resistance at 149.76 in case of a medium term rise.

Daily Pivots: (S1) 117.50; (P) 118.03; (R1) 118.41; More….

Intraday bias in EUR/JPY stays neutral first and near term outlook is unchanged. Consolidation from 115.86 could extend with another rise. ON the upside, break of 121.39 will target 122.87 resistance. On the downside, sustained break of 115.86 will indicate larger down trend resumption.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). As long as 122.87 resistance holds, the down trend should resume sooner or later to 114.84 support next. However, sustained break of 122.87 will complete a double bottom (115.86, 116.12) which could indicate medium term bullish reversal.

Daily Pivots: (S1) 120.15; (P) 120.38; (R1) 120.69; More….

Intraday bias in EUR/JPY remains neutral at this point. Outlook is unchanged that with 119.11 support intact, rise from 115.86 is in favor to continue. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY’s up trend resume last week by break through 132.35. Initial bias remains on the upside this week first. Current rise should now target 100% projection of 114.42 to 127.07 from 121.63 at 134.28. On the downside, break of 131.63 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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).

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) 161.54; (P) 161.77; (R1) 162.05; More…

EUR/JPY’s rally is in progress even though upside momentum is not too convincing. Intraday bias stays on the upside. Rise from 153.15 should target a retest on 164.29 high. On the downside, however, below 161.46 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 only. As long as 148.38 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage. Next target would be 169.96 (2008 high).

The rebound to 131.13 last week was brief. EUR/JPY drops sharply since then, through 129.10 support to close at 128.62. The development revives the case that corrective rebound from 124.61 has completed with three waves up to 131.97. Initial bias stays on the downside this week for 127.13 support first. Decisive break there will bring retest of 124.61 low. On the upside, above 129.52 minor resistance will turn intraday bias neutral first. But near term outlook will remain cautiously bearish as long as 131.13 resistance holds.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

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) 144.62; (P) 145.09; (R1) 145.41; More….

EUR/JPY lost momentum quickly after edging higher to 145.55 and intraday bias is turned neutral first. Further fall 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 from1 37.37 to 146.71 resistance and then 148.38 high.

In the bigger picture, as long as 55 week EMA (now at 139.42) 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.

Daily Pivots: (S1) 117.15; (P) 117.42; (R1) 117.72; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 116.56 is extending. In case of stronger recovery, upside should be limited by 119.58 resistance to bring fall resumption. On the downside, break of 116.56 will resume larger down trend to 114.84 medium term support next. Though, break of 119.58 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 120.11; (P) 120.27; (R1) 120.46; More….

EUR/JPY is still staying in consolidation from 121.46 and intraday bias remains neutral first. More sideway trading could be seen. In case of deeper fall, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance next.

In the bigger picture, current development argues that a medium term bottom is formed at 115.86, on bullish convergence condition in daily MACD, ahead of 114.84 support. Decisive of 120.78 support turned resistance will affirm this case and bring further rise to falling channel resistance (now at 125.38). Reactions from there would decide whether the medium term trend has reversed. For now, further rise is expected as long as 117.07 support holds.

Daily Pivots: (S1) 133.70; (P) 133.85; (R1) 134.10; More….

Intraday bias in EUR/JPY remains on the upside for 100% projection of 114.42 to 127.07 from 121.63 at 134.28. Sustained break there will extend the up trend from 114.42 to 137.49 long term resistance next. On the downside, break of 132.51 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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 130.65 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).