EUR/JPY’s rise from 137.32 resumed and extended higher last week. Initial bias stays on the downside this week for retesting 145.62 high first. Decisive break there will confirm up trend resumption. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, break of 140.88 will extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 (2016 low) should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY’s up trend resumed last week and hit 160.84 before turning into consolidation. Initial bias stays neutral this week as more sideway trading could be seen. But outlook will stay bullish as long as 157.67 support holds. Break of 160.84 will resume larger up trend to 163.06 projection level next.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. On the downside, break of 154.32 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

In the long term picture, rise from 109.03 (2016 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). Next target is 100% projection of 94.11 to 149.76 from 114.42 at 170.07 which is close to 169.96 (2008 high).

Daily Pivots: (S1) 136.67; (P) 137.17; (R1) 138.07; More….

EUR/JPY’s rebound form 132.63 extends higher and intraday bias is now on the upside. Correction from 139.99 should have completed with three waves down to 132.63 already. Break of 138.33 will bring retest of 139.99 high next. On the downside, below 134.97 support will turn bias back to the downside, to extend the corrective pattern from 139.99 with another falling leg.

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.

Daily Pivots: (S1) 131.49; (P) 132.09; (R1) 132.61; More….

Intraday bias in EUR/JPY remains neutral at this point. With 130.86 resistance turned support intact, near term outlook stays bullish and further rally is in favor. On the upside, above 133.12 will target 100% projection of 124.89 to 130.86 from 127.85 at 133.82 first. Break will target 137.49 high. However, firm break of 130.86 will turn focus back to 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has 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 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 137.85; (P) 138.84; (R1) 139.55; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Fall from 142.31 is seen as a falling leg inside the corrective pattern from 144.23. Deeper decline would be seen to 136.85 support. On the upside, above 140.06 minor resistance will turn bias back to the upside for 142.31 resistance instead.

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) 122.54; (P) 122.84; (R1) 123.08; More….

EUR/JPY’s decline from 127.07 resumes after brief consolidations and focus is now on 38.2% retracement of 114.42 to 127.07 at 122.23. Sustained break there will pave the way to o 61.8% retracement at 119.25, which is close to 119.31 key support. In any case, break of 124.31 resistance is needed to indicate completion of the decline. Otherwise, further fall will remain in favor in case of recovery.

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) 119.14; (P) 119.63; (R1) 120.24; More….

Outlook in EUR/JPY remains unchanged as sideway trading continues. Intraday bias remains neutral first. Further decline remains mildly in favor with 121.39 resistance intact. larger rebound from 115.86 should have completed at 122.87. Break of 118.37 will target 100% projection of 122.87 to 118.46 from 121.39 at 116.98 next. However, firm break of 121.39 will revive near term bullishness and bring retest of 122.87 resistance first.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). It was also just rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 114.84 support next.

EUR/JPY edged higher to 127.07 last week but quickly retreated. Initial bias stays neutral this week first for some more consolidations. Further rise is still expected as long as 124.44 support holds. Break of 127.07 will resume larger rise from 114.42 to 128.67 fibonacci level. However, firm break of 124.44 will confirm short term topping and turn bias to the downside for deeper correction, to 55 day EMA (now at 123.80).

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) 139.18; (P) 140.47; (R1) 142.10; More….

EUR/JPY recovered quickly after dipping to 138.81 and intraday bias remains neutral first. Outlook is unchanged that fall from 145.55 is the third leg of the whole corrective decline from 148.38. Risk stays on the downside as long as 4 hour 55 EMA (now at 142.21) holds. Below 138.81 will target 137.37 low, and then 135.40 fibonacci level.

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.

Daily Pivots: (S1) 146.71; (P) 147.31; (R1) 148.17; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, decisive break of 148.38 will resume larger up trend, and next target will be 149.76 long term resistance. However, sustained trading below 146.39 will indicate rejection by 148.38, and bring deeper fall to extend the corrective pattern from there.

In the bigger picture, as long as 55 W EMA (now at 140.70) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance (2014 high). Decisive break there will resume long term up trend from 94.11 (2012 low). Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64.

EUR/JPY’s down trend resumed last week and hit as low as 117.26. Initial bias is back on the downside this week for 114.84 key support next. On the upside, above 118.33 minor resistance will turn intraday bias neutral and bring more consolidations, before staging another fall.

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.

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. Break of 118.62 should now extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

Daily Pivots: (S1) 149.58; (P) 149.81; (R1) 150.04; More….

Intraday bias in EUR/JPY stays neutral at this point. On the upside, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level. 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.

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.

Daily Pivots: (S1) 158.95; (P) 159.69; (R1) 160.32; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. Some consolidations could be seen below 160.84 but outlook will stay bullish as long as 157.67 support holds. Break of 160.84 will resume larger rally to 163.06 projection level next.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. On the downside, break of 154.32 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

EUR/JPY’s fall from 163.70 extended lower to 160.54 last week but turned sideway since then. Initial bias remains neutral this week first. On the downside, break of 160.54 will target 38.2% retracement of 153.15 to 163.70 at 159.66. Sustained break there will indicate that fall from 163.70 is reversing whole rise from 153.13, and target 61.8% retracement at 157.18. On the upside, sustained break of 55 4H MACD (now at 162.27) will retain near term bullishness, and bring retest of 163.70.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 which could still be extending. 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).

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). Next target is 100% projection of 94.11 to 149.76 from 114.42 at 170.07 which is close to 169.96 (2008 high). This will remain the favored case as long as 148.38 resistance turned support holds.

Daily Pivots: (S1) 122.96; (P) 123.49; (R1) 123.95; More….

EUR/JPY’s rebound from 122.37 resumes today and hits as high as 124.59 so far. The development argues that correction from 127.07 has completed, as supported by 38.2% retracement of 114.42 to 127.07 at 122.23. Intraday bias is back on the upside for retesting 127.07 high. On the downside, though, break of 123.02 support will flip bias to the downside to extend the fall from 127.07.

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) 117.36; (P) 118.17; (R1) 118.71; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 117.51. With 119.87 minor resistance intact, further decline is in favor. Break of 117.51 will resume large down trend to 114.84 support next. However, break of 119.87 resistance will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 120.77).

In the bigger picture, down trend from 137.49 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 127.50 resistance is needed to be the confirm medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

EUR/JPY’s up trend continued last week and hit as high as 156.92. A temporary top was formed there and initial bias stays neutral for consolidations. Further rally would remain in favor as long as 154.30 minor support holds. Above 156.92 will resume larger up trend to 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, break of 154.03 will turn bias back to the downside for deeper pull back.

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

In the long term picture, rise from 109.03 (2016 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). Next target is 100% projection of 94.11 to 149.76 from 109.03 at 164.68, and possibly further to 169.96 (2008 high).

Daily Pivots: (S1) 147.94; (P) 148.32; (R1) 148.96; More….

Intraday bias in EUR/JPY remains neutral for the moment, and outlook stays bullish. On the upside, break of 151.60 will resume larger up trend to 153.64 projection level. Nevertheless, firm break of 146.85 will confirm short term topping and turn bias to the downside for deeper pull back.

In the bigger picture, current development indicates that 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 138.81 support holds, even in case of deep pull back.

Daily Pivots: (S1) 170.60; (P) 171.03; (R1) 171.76; More…

Intraday bias in EUR/JPY is turned neutral with current retreat. Some consolidations could be seen first but further rally will remain in favor as long as 169.31 support hold, for 61.8% projection of 164.01 to 170.87 from 167.52 at 171.75. However, firm break of 169.31 will turn bias back to the downside for 167.52 support instead.

In the bigger picture, strong support from 55 D EMA indicates that the long term up trend is still in progress. Decisive break of 171.58 will confirm resumption and target 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 164.01 support holds, even in case of deep pullback.

Daily Pivots: (S1) 125.58; (P) 126.29; (R1) 126.76; More….

EUR/JPY’s decline resumes after brief consolidation and reaches as low as 124.89 so far. Intraday bias is back on the downside for 124.61 low. Decisive break there will resume whole down trend from 137.49 and put 124.80 key support level in focus. Decisive break there will carry larger bearish implications. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there 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. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.