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.

Daily Pivots: (S1) 139.82; (P) 141.01; (R1) 141.86; More….

Intraday bias in EUR/JPY remains neutral first and consolidation from 139.11 temporary low could extend. Still, 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 142.55) holds. Below 139.11 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) 127.37; (P) 128.29; (R1) 128.81; More….

Intraday bias in EUR/JPY’s fall from 133.12 extends. The break of 127.85 support confirms completion of whole rebound from 124.89 at 133.12. Deeper decline would now be seen back to 124.89 support next. On the upside, 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) 138.97; (P) 140.37; (R1) 141.36; More….

Intraday bias in EUR/JPY remains mildly on the downside for 55 day EMA (now at 136.98). Sustained break there will bring further decline to 132.63 support. On the upside, above 141.77 minor resistance will turn bias back to the upside for 144.23 again.

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). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will now remain bullish as long as 132.63 support holds, in case of deep pull back.

EUR/JPY turned into consolidation below 161.84 last week. Initial bias remains neutral this week first. While another dip cannot be ruled out, further rally is expected as long as 158.55 resistance turned support holds. Break of 161.84 will resume the rebound from 153.15 to retest 164.29 high.

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 148.48 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.

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 148.48 resistance turned support holds.

Daily Pivots: (S1) 128.66; (P) 128.91; (R1) 129.28; More….

No change EUR/JPY’s outlook and intraday bias remains neutral first. While another rise cannot be ruled out, near term outlook will remain bearish as long as 130.14 resistance holds. On the downside, break of 127.83 minor support should resume the fall from 130.14 and target 126.63 low. Break will extend the decline from 133.12 to 124.08/89 support zone. On the upside, however, break of 130.14 will resume the rebound from 126.63 towards 133.12 resistance.

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) 124.03; (P) 124.32; (R1) 124.65; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. Correction from 127.07 could have completed with three waves down to 121.63. Further rally would be seen for retesting 127.07 high. On the downside, though, break of 123.18 minor support would extend the correction with another fall through 121.63.

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) 156.40; (P) 157.05; (R1) 157.58; More….

Range trading continues in EUR/JPY and intraday bias stays neutral at this point. On the upside, firm break of 158.464 will argue that the pull back has from 159.75 is completed. Bias will be turned back to the upside for resuming larger up trend through 159.75 high. On the downside, below 156.07 minor support will resume the fall from 159.75 through 154.32 support.

In the bigger picture, price actions from 159.75 are views as a corrective pattern for now. As long as 151.39 support holds, rise from 114.42 (2020 low) is still expected to continue through 159.75 at a later stage. Nevertheless, firm break of 151.39 will confirm medium term topping, and bring lengthier and deeper correction.

Daily Pivots: (S1) 118.93; (P) 119.06; (R1) 119.22; More….

EUR/JPY’s decline continues today and hits as low as 118.73 so far. Intraday bias remains on the downside. Current fall from 122.87 should target 100% projection of 122.87 to 119.77 from 121.15 at 118.05 next. On the upside, above 119.22 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 121.15 resistance to bring fall resumption.

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’s rebound from 118.62 extended last week even though upside momentum has been unconvincing. Further rise is expected this week for 55 days EMA (now at 126.15). We’d be cautious on strong resistance from there to limit upside. And, break of 124.36 support will argue that the rebound has completed and turn bias to the downside. Nevertheless, sustained trading above 55 day EMA will pave the way back to 129.25 resistance next.

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.

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. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 (2012 low) to bring reversal.

Daily Pivots: (S1) 123.90; (P) 124.36; (R1) 124.86; More….

A temporary low is in place at 123.82 in EUR/JPY and intraday bias is turned neutral first. Further decline is expected as long as 125.68 minor resistance holds. Prior break of 124.27 support indicates completion of rebound from 118.62. On the downside, below 123.82 will target 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) 124.41; (P) 124.65; (R1) 124.92; More….

EUR/JPY’s rebound form 122.37 is still in progress and intraday bias stays mildly on the upside for retesting 127.07. As 38.2% retracement of 114.42 to 127.07 at 122.23 was defended well, we’d expect larger rebound from 114.42 to resume later, with a break of 127.07. On the downside, though, break of 123.84 minor support will suggest that the recovery from 122.37 has completed. Intraday bias will be turned back to the downside for 122.23 fibonacci support.

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) 131.70; (P) 131.93; (R1) 132.23; More….

Intraday bias in EUR/JPY remains neutral for the moment. As noted before, corrective pattern from 134.11 should have completed three waves down to 127.36. Firm break of 132.11 will bring retest of 133.44/134.11 resistance zone. Decisive break there will resume larger up trend from 114.42. In case of deeper pull back, downside should be contained well above 128.23 support to bring another rally.

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) 121.85; (P) 122.16; (R1) 122.38; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 122.65 is extending. Downside should be contained above 119.99 support to bring another rally. Prior support from 55 day EMA is a sign of near term bullishness. On the upside, break of 122.65 will target 123.35 resistance first. Break will target key channel resistance (now at 124.72).

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 124.72) 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) 127.23; (P) 127.78; (R1) 128.18; More….

Intraday bias is EUR/JPY remains mildly on the downside for 126.58 medium term fibonacci level. We’d look for some support from there to bring rebound. But sustained break of 126.58 will carry larger bearish implications. On the upside, break of 128.77 resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, 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 medium term bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

Daily Pivots: (S1) 138.28; (P) 139.28; (R1) 139.88; More….

EUR/JPY’s fall from 145.62 extended lower today. Break of 138.38 support raises the chance of larger reversal. Intraday bias stays on the downside for 133.38 support next. On the upside, above 140.25 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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 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.

Daily Pivots: (S1) 124.68; (P) 125.08; (R1) 125.34; More….

Intraday bias in EUR/JPY remains neutral with focus on 124.36 minor support. Firm break there will argue that the rebound from 118.62 has completed and turn bias to the downside for retesting 118.62 low. On the upside, in case of another rise, we’d stay cautious on strong resistance from 55 day EMA (now at 126.07) to limit upside.

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) 138.80; (P) 139.20; (R1) 140.00; More….

Intraday bias in EUR/JPY stays on the upside at this point. Decisive break of 139.99 resistance will confirm larger up trend resumption. Next target 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28. On the downside, below 138.18 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.

Daily Pivots: (S1) 149.39; (P) 149.67; (R1) 150.16; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, below 148.58 temporary low 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.

Daily Pivots: (S1) 147.27; (P) 147.63; (R1) 148.11; More….

EUR/JPY’s rally finally resumes and the break of 148.38 resistance should now confirms resumption of larger up trend. Intraday bias is back on the upside for 149.76 long term resistance next. Break will target 153.64 projection level. Meanwhile, outlook will now stay bullish as long as 146.27 support holds, in case of retreat.

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. This will remain the favored case as long as 138.81 support holds.