Daily Pivots: (S1) 156.26; (P) 156.98; (R1) 158.04; More..

While EUR/JPY’s recovery from 153.15 could extend higher, upside should be limited below 158.36 minor resistance to bring another fall. On the downside, below 155.98 will turn bias to the downside for retesting 153.15. Break of 153.15 and sustained trading below 38.2% retracement of 139.05 to 164.29 at 154.64 will target 61.8% retracement at 148.69 next.

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) 132.07; (P) 132.56; (R1) 132.86; More….

With 133.38 resistance intact, near term outlook in EUR/JPY remains bearish. Sustained trading below 132.04 cluster support (23.6% retracement of 114.84 to 137.49 at 132.14) will indicate larger trend reversal on bearish divergence condition in daily MACD. In such case, deeper decline would be seen for 38.2% retracement at 128.38 first. However, rebound from 132.04 will retain near term bullishness. Break of 133.38 minor resistance will turn bias back to the upside for 137.49 again.

In the bigger picture, bearish divergence condition in weekly MACD indicates loss of medium term upside momentum. Sustained break of 132.04 will be the early sign of long term reversal and should bring deeper fall back to retest 124.08 key support level. Meanwhile, break of 137.49 will resume the up trend from 109.03 to 141.04/149.76 resistance zone.

Daily Pivots: (S1) 125.87; (P) 126.17; (R1) 126.73; More….

A temporary low is in place at 125.52 in EUR/JPY with the current recovery. Intraday bias is turned neutral for consolidation first. But near term outlook will remain bearish as long as 127.63 resistance holds. On the downside, below 125.52 will target 124.08/89 support zone next.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. 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) 126.44; (P) 126.77; (R1) 126.98; More….

EUR/JPY is staying in consolidation from 127.48 and intraday bias remains neutral first. Outlook will stay bullish as long as 126.03 support holds. Break of 127.48 will resume larger rise from 114.42. Next target is 128.67 medium term fibonacci level. However, firm break of 126.03 will suggest short term topping. Intraday bias will be turned back to the downside for deeper pull back, towards 125.13 resistance turned support 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.

Daily Pivots: (S1) 161.01; (P) 161.37; (R1) 162.04; More….

EUR/JPY’s rally is still in progress and hits as high as 161.71 so far. Intraday bias stays on the upside for 163.06 projection level next. On the downside, below 160.68 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

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.

Daily Pivots: (S1) 153.76; (P) 154.52; (R1) 155.94; More….

Intraday bias in EUR/JPY stays on the upside as up trend is in progress. Next target is 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, below 153.08 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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.

Daily Pivots: (S1) 131.97; (P) 132.60; (R1) 132.93; More….

EUR/JPY break of 132.03 minor support suggests that corrective rise from 128.94 has completed at 133.47 already, on bearish divergence condition in 4 hour MACD. Intraday bias is turned back to the downside for retesting 128.94 low first. Break will resume whole decline3 from 137.49. In case of another rise, we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside and bring fall resumption eventually.

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) 127.67; (P) 127.99; (R1) 128.46; More….

Intraday bias in EUR/JPY is turned neutral as it recovered ahead of 127.36 support. 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) 139.07; (P) 140.28; (R1) 141.02; More….

EUR/JPY’s fall from 144.23 resumes today and intraday bias is back on the downside for 55 day EMA (now at 137.11). On the upside, above 141.48 will turn bias back to the upside for retesting 144.23 resistance instead.

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.

Daily Pivots: (S1) 137.42; (P) 138.06; (R1) 139.26; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, below 136.86 will target 132.63 support. Decisive break will turn outlook bearish for 124.37 support. On the upside, above 139.78 minor resistance will turn bias to the upside for stronger recovery.

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. Firm break of 139.78 will target 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.

EUR/JPY rebounded strongly after diving to 154.32 last week. But upside is limited below 158.46. Initial bias stays neutral this week first. 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.

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) 144.84; (P) 146.12; (R1) 148.45; More….

EUR/JPY is staying in consolidation below 148.48 short term top and intraday bias remains neutral. Downside of retreat should be contained by 140.88/144.06 support zone to bring another rally. Break of 148.38 will resume larger up trend to 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.76 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

Daily Pivots: (S1) 161.78; (P) 162.08; (R1) 162.61; More….

EUR/JPY’s rally accelerates to as high as 163.44 so far. 163.06 projection is taken out already and there is no sign of topping. Intraday bias stays on the upside . Next target is 169.96 long term resistance. On the downside, below 162.35 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 114.42 (2020 low) is in progress. sustained trading above 100% projection of 124.37 to 148.38 from 139.05 at 163.06 will target 169.96 (2008 high). On the downside, break of 159.75 resistance turned support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

Daily Pivots: (S1) 117.19; (P) 117.60; (R1) 117.86; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. rebound from 115.86 should have completed at 120.01. Deeper fall should be seen to retest 115.86 first. On the upside, above 118.47 minor resistance will turn bias back to the upside for 120.01 resistance instead.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

Daily Pivots: (S1) 132.41; (P) 132.84; (R1) 133.18; More….

At this point, EUR/JPY cannot sustain below 132.04 cluster support (23.6% retracement of 114.84 to 137.49 at 132.14) yet. Intraday bias remains neutral first. Deeper fall is still expected with 134.16 resistance intact. Decisive break of 132.04/14 will indicate larger trend reversal on bearish divergence condition in daily MACD. In such case, outlook will be turned bearish for 38.2% retracement at 128.38 first. Nonetheless, rebound from 132.04 will retain near term bullishness. Break of 134.16 minor resistance will bring retest of 137.49 high instead.

In the bigger picture, bearish divergence condition in week EMA indicates lost up medium term up trend momentum. But there is no clear sign of completion of up trend from 109.03 yet. Break of 137.49 will target 141.04/149.76 resistance zone. However, sustained break of 132.04 will be the early sign of long term reversal and should bring deeper fall back to retest 124.08 key support level.

Daily Pivots: (S1) 122.45; (P) 122.63; (R1) 122.79; More….

EUR/JPY is staying in consolidation from 122.08 and intraday bias remains neutral. More sideway trading could be seen. But upside should be limited by 124.09 support turned resistance to bring fall resumption eventually. On the downside, firm break of 122.08 will resume the fall from 127.50 and target 118.62 low next. Nevertheless, firm break of 124.09 will at least bring stronger rebound back to 125.23 resistance and above.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

Daily Pivots: (S1) 119.83; (P) 120.21; (R1) 120.47; More….

Intraday bias in EUR/JPY remains neutral for the moment. As long as 191.11 support holds, outlook remains cautiously bullish and further rise is in favor. On the upside above 120.68 will target a test on 121.46 resistance firm Break will resume whole rise form 115.86 and target 123.35 structural resistance.

In the bigger picture, a medium term bottom should be 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 125.32). 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) 123.18; (P) 123.44; (R1) 123.77; More….

Intraday bias in EUR/JPY remains neutral first and another fall is expected. On the downside, below 123.01 will target 38.2% retracement of 114.42 to 127.07 at 122.23. Firm break there will confirm resumption of whole corrective fall from 127.07, and target 61.8% retracement at 119.25, which is close to 119.31 key support. On the upside, though, break of 125.08 will target a retest on 127.07 high.

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) 150.47; (P) 150.92; (R1) 151.81; More….

Intraday bias in EUR/JPY is back on the upside with break of 151.05 resistance. Firm break of 151.60 hill will resume larger up trend and target 153.64 projection level. For now, risk will stay on the upside as long as 148.58 support holds, in case of retreat.

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) 157.72; (P) 158.60; (R1) 159.12; More….

EUR/JPY’s steep fall and break of 157.64 minor support indicates short term topping at 159.47, on bearish divergence condition in 4H MACD. Intraday bias is back on the downside for 55 D EMA (now at 155.62) first. For now, risk will stay mildly on the downside as long as 159.47 holds, in case of recovery.

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.