Daily Pivots: (S1) 143.71; (P) 144.57; (R1) 145.18; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 145.66 temporary top. Rebound from 137.37 could be extending. On the upside, break of 145.66 will target 148.38 high. However, break of 143.12 minor support will mix up the outlook again and turn bias to the downside for 138.81 support instead.

In the bigger picture, as long as 55 week EMA (now at 139.78) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, sustained break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Decisive break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 120.17; (P) 121.14; (R1) 121.81; More…..

Intraday bias in EUR/JPY remains neutral for the moment. Further decline will remain in favor with 122.51 minor resistance intact. Sustained trading below 38.2% retracement of 114.42 to 124.43 at 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, 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 118.89) 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) 132.23; (P) 132.65; (R1) 132.96; More….

EUR/JPY continues to lose upside momentum as seen in 4 hour MACD. But with 132.10 minor support intact, further rise could be seen. Nonetheless, upside will now likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below. On the downside, below 132.10 minor support will suggests that the rebound from 128.94 might have completed. And, intraday bias will be turned back to the downside for retesting 128.94 low.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 128.58; (P) 128.95; (R1) 129.33; More….

Intraday bias in EUR/JPY remains on the downside. Current development argues that consolidation pattern from 134.11 is extending with another leg. Deeper decline would be seen to 127.36, and possibly further to 126.58 fibonacci level. On the upside, above 130.07 minor resistance will turn intraday bias neutral first. But risk will stay on the downside for now as long as 131.59 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 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) 120.51; (P) 121.20; (R1) 121.76; More….

EUR/JPY’s fall from 122.87 extends to as low as 120.63 so far and intraday bias remains on the downside. With 55 day EMA taken out, focus is now on 120.17 structure support. Sustained break there will argue that whole rise from 115.86 has completed and turn outlook bearish. Nevertheless, strong rebound from the current level, followed by break of 121.74 minor resistance, will retain near term bullishness. Retest of 122.87 high should then be seen.

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 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) 129.33; (P) 129.80; (R1) 130.11; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, above 130.26 will resume the rebound form 124.61 and target 133.47 key near term resistance next. On the downside, however, break of 127.78 minor support will indicate completion of the rebound from 124.61. Intraday bias will be turned back to the downside for 124.61 first.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. 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. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

Daily Pivots: (S1) 141.34; (P) 141.80; (R1) 142.47; More….

A short term bottom should be formed in EUR/JPY at 138.79 with current rebound. Intraday bias is back on the upside for 55 day EMA (now at 143.37). Sustained break there will argue that whole correction from 148.38 has completed with three waves down to 138.79. Further rise should then be seen back to 146.71/148.38 resistance zone. On the downside, below 141.12 will bring retest of 138.79 instead.

In the bigger picture, as long as 55 week EMA (now at 138.54) 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 before completing the correction from 148.38.

Daily Pivots: (S1) 180.53; (P) 181.41; (R1) 182.62; More…

Intraday bias in GBP/JPY stays mildly on the upside for retesting 183.99 high first. Firm break there will resume larger up trend to 187.36 projection level. On the downside, however, break of 179.45 will extend the pull back to 55 D EMA (now at 177.01).

In the bigger picture, as long as 172.11 resistance turned support holds, up trend from 123.94 (2020 low) is expected to continue. On resumption, next target is 138.2% projection of 148.93 to 172.11 from 155.33 at 187.36, and then 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 158.29; (P) 158.85; (R1) 159.89; More….

Prior breach of 159.32 suggests that EUR/JPY’s up trend is resuming. Further rally is now expected as long as 157.64 support holds. Next target is 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09. Nevertheless, break of 157.64 will now indicate short term topping, and turn bias to the downside for deeper correction.

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. Sustained break there will pave the way to retest long term resistance at 169.96. This will now remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 126.99; (P) 127.67; (R1) 128.08; More….

EUR/JPY is staying above 16.63 minor support and intraday bias remains neutral first. Break of 126.62 will resume the fall from 130.33 and target a test on 124.61 low. This will also affirm the case that larger decline from 137.49 is still in progress. On the upside, break of 130.33 resistance will confirm resumption of rise from 124.61. That will also revive the case of near term reversal and turn bias to the upside for 133.47 key resistance.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. 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. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

While EUR/JPY’s correction from 161.84 extended to 158.06, it drew some support from 158.55 and near term rising channel and rebounded. Initial bias remains neutral this week first. On the upside, firm break of 160.25 will indicate that rise from 153.15 is ready to resume, and turn bias back to the upside for 161.84 first. Nevertheless, break of 158.06 will now suggest that the rise from 153.15 has completed and turn bias back to the downside.

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.

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) 130.39; (P) 130.80; (R1) 131.06; More….

EUR/JPY’s fall from 131.97 extends today but it’s still held above 129.90 support. Intraday bias remains neutral and near term outlook stays bullish for another rally. On the upside, above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, considering bearish divergent condition in 4 hour MACD, break of 129.90 will indicate short term reversal, and turn bias back to the downside for 127.13 support and below.

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) 128.30; (P) 128.87; (R1) 129.24; More….

Intraday bias in EUR/JPY remains on the downside at this point. Fall from 134.11 is resuming and should target 127.07 resistance turned support next. That is close to 38.2% retracement of 114.42 to 134.11 at 126.58. On the upside, above 129.12 minor resistance will turn intraday bias neutral first.

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) 155.64; (P) 156.13; (R1) 156.39; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, above 157.19 temporary top will resume the rebound from 153.32 to retest 157.99 high. Firm break there will resume larger up trend. On the downside, below 154.86 minor support should resume the corrective fall from 157.99 through 153.32 support, to 55 D EMA (now at 153.10) and below.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

Daily Pivots: (S1) 122.05; (P) 122.31; (R1) 122.49; More….

EUR/JPY’s break of 122.10 minor support suggests that corrective recovery from 120.78 has completed at 123.18 already. Intraday bias is turned back to the downside for retesting 120.78 first. Break there will resume whole decline from 127.50 and target 118.62 low next. In case of another rise, we’d continue to expect strong resistance form 123.73 to complete the recovery to bring fall resumption.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 139.64; (P) 140.00; (R1) 140.57; More….

Intraday bias in EUR/JPY remains on the upside for the moment. Current up trend should target 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28 next. On the downside, below 138.18 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 128.27; (P) 128.51; (R1) 128.97; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. On the downside, firm break of 127.36 will resume fall from 133.44 and larger pattern from 134.11. Next target is 126.58 medium term fibonacci level. For now, outlook will stay bearish as long as 129.62 resistance holds, in case of stronger recovery.

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) 149.07; (P) 149.55; (R1) 150.45; More….

Range trading continues in EUR/JPY and intraday bias remains neutral 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.

Daily Pivots: (S1) 122.95; (P) 123.21; (R1) 123.42; More….

Intraday bias in EUR/JPY remains neutral for the moment. Corrective pattern from 127.07 is possibly extending with another falling leg. Break of 122.84 Below 122.84 will target a test on 121.63 support. However, break of 123.66 will dampen this bearish view and turn bias back to the upside for 125.13 resistance 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 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) 125.17; (P) 125.69; (R1) 125.96; More….

EUR/JPY’s fall from 127.48 short term top extends to as low as 125.13 so far and there is no sign of bottoming yet. Sustained break of 38.2% retracement of 121.63 to 127.48 at 125.24 will pave the way to 61.8% retracement at 123.86 next. On the upside, break of 125.91 minor resistance will turn intraday bias neutral 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 121.63 support holds. Decisive break of 127.07 will target 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.