Daily Pivots: (S1) 124.62; (P) 124.91; (R1) 125.36; More….

EUR/JPY’s break of 125.34 minor resistance argues that pull back from 127.50 has completed at 124.27, after defending 124.23 cluster support (38.2% retracement of 118.62 to 127.50 at 124.10).Ner term bullishness is so far retained. Intraday bias is turned back to the upside for retesting 127.50 resistance first. On the downside, however, decisive break of 124.10/23 should confirm completion of whole rebound from 118.61. Deeper fall should at least be seen to 61.8% retracement at 122.01 and below. In this case, the chance of resuming larger down trend will also increase.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed with three waves down to 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case. And in such case, the down trend from 137.49 could possibly resume through 118.62.

Daily Pivots: (S1) 128.09; (P) 128.49; (R1) 129.20; More….

EUR/JPY’s rally resumed by taking out 128.44 and intraday bias is back on the upside. 128.67 long term fibonacci level was taken out already. Further rally should be seen to 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. On the downside, break of 128.37 minor support will turn intraday bias neutral and bring consolidations again.

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 125.07 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will indicate solid upside momentum and target 137.49 next. This will remain the favored case as long as 125.07 support holds.

Daily Pivots: (S1) 131.81; (P) 132.78; (R1) 133.32; More….

EUR/JPY is still bounded in range of 131.16/134.48 and intraday bias remains neutral. Further rise is expected as long as 131.16 support holds. Decisive break of 134.48 will resume medium term rise from 114.84 and target 141.04 resistance next. However, sustained break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

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). Sustained break of 61.8% retracement of 149.76 to 109.03 at 134.20 will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 142.55; (P) 143.33; (R1) 144.87; More….

Intraday bias in EUR/JPY remains on the upside for the moment. Pull back from 145.55 could have completed at 138.81 already. Further rise would be seen to 145.55 first. Break there will resume the whole rebound from 137.37 and target a test on 148.38 high. On the downside, though, below 142.21 minor support will mix up the outlook again and turn intraday bias neutral.

In the bigger picture, as long as 55 week EMA (now at 139.58) 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) 161.36; (P) 162.40; (R1) 163.11; More…

Risk in EUR/JPY remains on the downside as long as 163.70 short term top holds. Fall from there would extend to channel support (now at 161.06). Firm break there will target 38.2% retracement of 153.15 to 163.70 at 159.66.

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. Next target would be 169.96 (2008 high).

EUR/JPY’s up trend resumed last week and surged to as high as 132.35. As a temporary top was formed there with subsequent retreat. Initial bias is neutral this week for some consolidations first. Downside of retreat should be contained well above 129.57 support to bring rise resumption. On the up side, break of 132.35 will target 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).

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Another rising leg in progress for 137.49 resistance and above.

Daily Pivots: (S1) 128.58; (P) 128.82; (R1) 129.18; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral first. As long as 130.14 resistance holds, deeper decline is in favor in the cross. Below 127.49 will target 126.63 support first. Break there will resume whole fall from 133.12 and target 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) 118.04; (P) 118.39; (R1) 118.69; More….

EUR/JPY drops mildly today but stays above 117.67 temporary low. Intraday bias remains neutral for the moment and more consolidations could be seen. But even in case of another recovery, upside should be limited below 120.05 support turned resistance to bring fall resumption. On the downside, break of 117.67 will resume recent fall from 127.50 to 114.84 support next.

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.

Daily Pivots: (S1) 119.45; (P) 119.88; (R1) 120.13; More….

EUR/JPY’s fall form 122.87 is still in progress nand intraday bias remains on the downside for 119.24 cluster level first (61.8% projection of 122.87 to 119.77 from 121.15 at 119.23). Break there will further affirm the bearish case and target 100% projection at 118.05 next. For now, near term outlook will remain bearish as long as 121.15 resistance holds, in case of recovery.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Thus, outlook remains bearish. Rise from 115.86 is seen as a corrective rise, which might have completed. Firm break of 115.86 will resume the down trend to 114.84 support next.

Daily Pivots: (S1) 123.55; (P) 123.85; (R1) 124.37; More….

EUR/JPY recovers after hitting 123.31 and intraday bias is turned neutral first. Further fall is expected as long as 125.01 resistance holds. Fall from 127.07 is correcting the rise from 114.42. Break of 123.31 will target 38.2% retracement of 114.42 to 127.07 at 122.23. Also, risk will now stay on the downside as long as 127.07 resistance holds, even in case of strong recovery.

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.

Daily Pivots: (S1) 164.98; (P) 165.36; (R1) 166.09; More…

Intraday bias in EUR/JPY remains on the upside for the moment. Current up trend should target 169.96 key resistance next. On the downside, break of 164.39 minor support will turn intraday bias neutral again first. But outlook will continue to stay bullish as long as 162.26 support holds, in case of retreat.

In the bigger picture, current rally is part of the up trend from 114.42 (2020 low), which is still in progress. Next target is 169.96 (2008 high). Break of 160.20 support is needed to be the first sign of medium term topping. Otherwise, outlook will stay bullish in case of retreat.

Daily Pivots: (S1) 117.31; (P) 118.32; (R1) 119.23; More….

EUR/JPY is staying in range trading and intraday bias remains neutral first. Consolidation from 115.86 could extend with another rise. On the upside, break of 121.39 will target 122.87 resistance. On the downside, sustained break of 115.86 will indicate larger down trend resumption.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). As long as 122.87 resistance holds, the down trend should resume sooner or later to 114.84 support next. However, sustained break of 122.87 will complete a double bottom (115.86, 116.12) which could indicate medium term bullish reversal.

Daily Pivots: (S1) 124.90; (P) 125.43; (R1) 126.43; More….

EUR/JPY’s rebound from 121.63 resumed by taking out 125.13 resistance firmly. The development also revive the case that correction from 127.07 has completed. Intraday bias stays on the upside for retesting 127.07. Break there will resume whole rise from 114.42 to 128.67 fibonacci level next. On the downside, below 125.12 minor support 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 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) 168.13; (P) 169.61; (R1) 170.38; More…

EUR/JPY’s fall from 175.41 resumed after brief consolidations and dives to as low as 167.42 so far. Intraday bias is back on the downside for 38.2% retracement of 153.15 to 175.41 at 166.90. Some support could be seen there to bring rebound, on first attempt. But break of 169.98 support turned resistance is needed to signal short term bottoming. Firm break of 166.90 will pave the way to medium term channel support (now at 165.46).

In the bigger picture, medium term outlook will stay bullish as long as 164.29 resistance turned support holds. Long term up trend is still in favor to continue through 175.41 at a later stage. However, firm break of 164.29 will be a strong sign of bearish trend reversal.

Daily Pivots: (S1) 126.26; (P) 126.61; (R1) 126.86; More….

EUR/JPY is staying in consolidation from 127.50 temporary top and intraday bias remains neutral. In case of deeper retreat, downside should be contained by 124.23/125.95 support zone to bring rise resumption. On the upside, break of 127.50 will resume the rally from 118.62 towards 61.8% retracement of 137.49 to 118.62 at 130.28 next.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed with three waves down to 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case and turn focus back to 118.62 instead.

Daily Pivots: (S1) 124.80; (P) 125.13; (R1) 125.48; More….

Despite dipping to 124.78, EUR/JPY quickly recovered and intraday bias is turned neural again. On the upside, above 125.61 will resume the rebound to 126.78/127.50 resistance zone. On the downside, below 124.78 will extend the fall from 125.61 back to 123.65 support first.

In the bigger picture, EUR/JPY is staying well inside medium term falling channel from 137.49 (2018 high). It’s also held below 55 week EMA (now at 127.53). Thus, down trend from 137.49 might still extend lower. Break of 118.62 will target 109.03/114.84 long term support zone. On the upside, however, break of 127.50 will solidify the case of medium term bullish reversal. Rise from 118.76 should extend to 133.12 key resistance instead.

Daily Pivots: (S1) 162.54; (P) 162.99; (R1) 163.38; More…

EUR/JPY dips notably today as range trading from 163.70 extends. Intraday bias stays neutral first. On the downside, break of 161.67 minor support will bring deeper decline to 38.2% retracement of 153.15 to 163.70 at 159.66, as corrective pattern from 163.70 resumes. Nevertheless, firm break of 163.70 will resume whole rally 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 148.38 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).

Daily Pivots: (S1) 126.17; (P) 126.39; (R1) 126.70; More….

EUR/JPY’s rebound from 124.27 resumes today and focus back on 127.50 resistance. Decisive break there will resume whole rise from 118.62 and target 129.50 resistance next. In case of another fall, near term outlook will remain bullish as long as 124.23 cluster support (38.2% retracement of 118.62 to 127.50 at 124.10) holds.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed with three waves down to 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case. And in such case, the down trend from 137.49 could possibly resume through 118.62.

EUR/JPY’s rebound from 138.81 was stronger than expected. But subsequent steep decline from 143.61 affirmed the bearish case. That is, fall from 145.55 is a leg inside the whole corrective decline from 148.38. Risk will now remain on the downside as long as 143.61 resistance 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 139.58) 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.

In the long term picture, outlook will stay bullish as long as 134.11 resistance turned support holds (2021 high). Sustained break of 149.76 (2014 high) will open up further rally, as resumption of the rise from 94.11 (2012 low), towards 169.96 (2008 high).

Daily Pivots: (S1) 128.69; (P) 128.87; (R1) 129.13; More….

EUR/JPY is staying in consolidation from 127.91 temporary low and intraday bias remains neutral first. Further decline is expected as long as 130.54 resistance holds. On the downside, break of 127.91 will target 127.07 resistance turned support. That is close to 38.2% retracement of 114.42 to 134.11 at 126.58.

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, deeper fall would be seen to 61.8% retracement of 114.42 to 134.11 at 121.94.