Daily Pivots: (S1) 125.88; (P) 126.33; (R1) 127.02; More….

Intraday bias in EUR/JPY remains on the upside at this point. As correction from 127.50 has completed at 123.65 already, further rise should be seen to 127.50 resistance. Decisive break there will resume whole rise from 118.62 for medium term channel resistance at 129.15 next. On the downside, break of 125.61 resistance turned support will need to indicate completion of the rise. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

Daily Pivots: (S1) 119.47; (P) 119.73; (R1) 120.02; More…..

EUR/JPY’s rally accelerates to as high as 121.22 so far today. As 121.14 resistance is taken out, further rise should be seen to 122.87 key resistance next. On the downside, break of 119.42 support is needed to indicate short term topping. Otherwise, further rally will remain in favor even in case of retreat.

In the bigger picture, the case of bullish trend reversal is starting to build up as rise from 114.42 is accelerating. Sustained trading below the channel resistance (now at 121.220, will argue that whole down trend from 137.49 (2018 high) has completed at 114.42. Further break of 122.87 resistance will confirm and turn outlook bullish.

Daily Pivots: (S1) 132.40; (P) 132.75; (R1) 133.23; More…

Intraday bias in EUR/JPY remains neutral for consolidative trading below 134.39 high. Near term outlook remains bullish as long as 131.69 holds. Sustained break of 134.20 fibonacci level will extend larger up trend to 141.04 resistance next. However, break of 131.69 will be an early sign of medium term reversal and will target 127.55 key support level instead.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. On the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

Daily Pivots: (S1) 122.58; (P) 122.89; (R1) 123.41; More….

Intraday bias in EUR/JPY is turned neutral again with today’s recovery. But as long as 124.31 resistance holds, further decline is expected. Sustained break of 38.2% retracement of 114.42 to 127.07 at 122.23 will extend the fall from 127.07 to 61.8% retracement at 119.25, which is close to 119.31 key 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) 127.96; (P) 128.83; (R1) 129.29; More…

EUR/JPY’s fall from 130.38 accelerates further lower and breached 128.04. Based on current momentum, the corrective fall from 131.39 will dip deeper than originally expected. Intraday bias is now on the downside. Break of 38.2% retracement of 122.39 to 131.39 at 127.95 will target 100% projection of 131.39 to 128.04 from 130.38 at 127.03. We’ll looking for bottoming above 125.80 cluster support (61.8% retracement at 125.82) . On the upside, break of 130.38 is needed to signal completion of the correction. Otherwise, deeper decline is now mildly in favor.

In the bigger picture, the down trend from 149.76 (2014 high) is completed at 109.03 (2016 low). Current rally from 109.03 should be at the same degree as the fall from 149.76 to 109.03. Further rise is expected to 61.8% retracement of 149.76 to 109.03 at 134.20. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. Medium term outlook will remain bullish as long as 124.08 resistance turned support holds.

Daily Pivots: (S1) 131.49; (P) 131.94; (R1) 132.40; More….

Intraday bias in EUR/JPY remains neutral as corrective pattern from 133.44 is still extending. Deeper fall could be seen but downside should be contained above 130.45 resistance turned support to bring rebound. On the upside, above 133.44 will target 134.11 high first. Firm break there will resume larger up trend from 114.42. Next target is 61.8% projection of 121.63 to 134.11 from 127.91 at 135.62.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). Next target will be 100% projection of 109.03 to 137.49 from 114.42 at 142.88. This will now remain the favored case as long as 127.91 support holds.

EUR/JPY’s rise from 153.15 extended higher last week. Initial bias stays on the upside this week for 161.8% projection of 153.15 to 158.55 from 155.06 at 163.79, which is close to 164.29 high. On the downside, below 160.03 minor support will turn intraday bias neutral first. But further rally is expected as long as 158.55 resistance turned support holds.

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.

EUR/JPY breached 159.47 to 159.75 last week but reversed from there. As downside is contained above 156.85 so far, initial bias remains neutral this week first. On the downside, break of 156.85 will turn bias back to the downside for 55 D EMA (now at 156.17) and possibly below. On the upside, break of 159.75 will resume larger up trend instead.

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 remain the favored case as long as 151.39 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 114.42 at 170.07 which is close to 169.96 (2008 high).

Daily Pivots: (S1) 131.66; (P) 132.06; (R1) 132.39; More….

EUR/JPY drops sharply today but stays above 130.86 resistance turned support so far. Intraday bias remains neutral and another rise is still in favor. Break of 133.12 will target 137.49 high. However, break of 130.86 will argue that whole rise from 124.89 has completed. Deeper fall should then be seen back towards 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.

EUR/JPY drew support from 131.69 and rebounded last week but it’s after all staying in recently established range of 131.69/134.39. Initial bias remains neutral this week first. On the upside, decisive break of 134.39 high will confirm up trend resumption. In such case, EUR/JPY should target 141.04 long term resistance. However, firm break of 131.69 will be an early sign of medium term reversal and will target 127.55 key support level.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will argue that the medium term trend has reversed and will turn outlook bearish for deeper fall.

In the long term picture, at this point, there is no clear indication that rise from 109.03 is resuming that from 94.11. Hence, we’d be cautious on topping below 149.76 to extend range trading. Nonetheless, firm break of 149.76 will indicates strong underlying buying. In such case, EUR/JPY will target 100% projection of 94.11 to 149.76 from 109.03 at 164.68.

Daily Pivots: (S1) 142.61; (P) 143.34; (R1) 144.70; More….

Intraday bias in EUR/JPY remains mildly on the upside. Rise from 137.32 should target retesting 145.62 high. Firm break there will resume larger up trend. On the downside, break of 140.77 minor support will turn bias back to the downside, to 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.

Daily Pivots: (S1) 132.43; (P) 132.82; (R1) 133.10; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 133.42 temporary top. Downside of retreat should be contained well above 130.97 support to bring rally resumption. On the upside, break of 133.42 will extend larger up trend to 100% projection of 114.42 to 127.07 from 121.63 at 134.28.

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).

Daily Pivots: (S1) 125.70; (P) 126.03; (R1) 126.52; More….

Intraday bias EUR/JPY stays neutral first. On the downside, break of 124.23 support will suggest completion of rebound from 118.62 after rejection by 55 day EMA. Deeper fall would then be seen back to retest 118.62 low. However, decisive break of 126.30 will dampen our bearish view and target 129.25 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 (2018 high) already, with corrective structure. Fall from 137.49 is likely still in progress. Decisive break of 118.62 will target 161.8% projection of 137.49 to 124.61 from 133.12 at 112.28, which is inside 109.03/114.84 support zone. This will remain the favored case as long as 129.25 resistance holds.

EUR/JPY edged higher to 159.32 last week but retreated since then. Initial bias is mildly on the downside this week for pull back towards 55 D EMA (now at 155.31). On the upside, though, break of 159.32 will resume larger up trend to 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 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. 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.

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) 130.91; (P) 131.60; (R1) 132.17; More….

EUR/JPY’s break of 130.95 minor support suggests that corrective recovery from 129.34 has completed at 132.40 already. That’s slightly ahead of 38.2% retracement of 137.49 to 129.34 at 132.45. Intraday bias is back on the downside for retesting 129.34 low first. Break will resume whole fall from 137.49 and target 126.61 medium term fibonacci level. In case of another rise, we’d continue to expect strong resistance from 132.45 to limit upside.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. On the upside, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

Daily Pivots: (S1) 130.62; (P) 130.91; (R1) 131.37; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 131.59 is in progress. Further rise is expected with 130.01 support intact. Whole consolidation from 134.11 could have completed with three waves down to 127.36, ahead of 126.58 medium term fibonacci level. Break of 131.59 will target a test on 133.44/134.11 resistance zone. On the downside, break of 130.01 minor support will turn bias bias to the downside for retesting 127.36 low instead.

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.

EUR/JPY edged higher to 133.08 last week but continued to lose upside momentum, as seen in 4 hour MACD. Breach of 132.10 minor support argues that corrective rebound from 128.94 could have completed. Initial bias is turned to the downside this week for retesting 128.94 low. On the upside, above 133.08 will extend such rebound. But upside will likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below.

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.

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) 156.96; (P) 157.67; (R1) 158.25; More..

EUR/JPY is still bounded in range of 153.15/158.55 and intraday bias remains neutral. On the upside, above 158.55 will resume the rebound from 153.15. On the downside, break of 153.15 will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69.

In the bigger picture, price actions from 164.29 medium term top are tentatively seen as a correction to rise from 139.05 for now. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) could still resume through 164.29 at a later stage.

Daily Pivots: (S1) 127.99; (P) 128.30; (R1) 128.80; More….

EUR/JPY’s decline from 130.33 accelerates to as low as 126.79 so far. Rebound from 124.61 should have completed at 130.33 after rejection by 55 day EMA. Intraday bias is now on the downside for 124.08/61 support zone. On the upside, break of 128.50 minor resistance is needed to indicate completion of the fall. Otherwise, deeper decline will remain in favor even in case of recovery.

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) 121.28; (P) 121.49; (R1) 121.84; More….

Intraday bias in EUR/JPY remains neutral first. With 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) 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.