Daily Pivots: (S1) 118.35; (P) 118.71; (R1) 118.95; More….

Intraday bias in EUR/JPY stays on the downside with 109.22 minor resistance intact. 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.

Daily Pivots: (S1) 126.32; (P) 126.67; (R1) 126.94; More….

Intraday bias in EUR/JPY remains neutral at this point, and more consolidative trading could be seen. On the upside, firm break of 127.07 will resume whole rebound from 114.42. Next target is 128.67 medium term fibonacci level. On the downside, though, break of 125.70 support will turn bias to the downside, to extend the consolidation pattern from1 27.07 with another falling leg.

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. Sustained trading above there will target 137.49 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) 157.02; (P) 157.45; (R1) 158.18; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. Risk stays on the downside with 158.64 resistance intact. On the downside, break of 156.57 support, and sustained trading below 55 D EMA (now at 156.96) will argue that fall from 159.75 is a larger scale correction. Deeper decline would be seen back towards 151.39 support. Nevertheless, above 158.64 would bring retest of 159.75 high instead.

In the bigger picture, as long as 151.39 support holds, rise from 114.42 is still expected to continue. 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.

Daily Pivots: (S1) 118.21; (P) 118.80; (R1) 119.12; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 120.01 extends. On the downside, break of 117.55 minor support will suggest completion of rebound from 115.86. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 120.10 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance.

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) 128.74; (P) 129.06; (R1) 129.35; More….

Consolidation from 129.96 is still extending and intraday bias in EUR/JPY remains neutral first. Further rise is expected with 127.48 support intact. On the upside, above 129.96 will resume the up trend from 121.63 to 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. However, firm break of 127.48 will turn bias to the downside, for deeper decline to 125.07 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 125.07 support holds. Sustained trading above 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 will pave the way to 137.49 resistance next.

EU/JPY’s decline from 133.44 accelerated to as low as 127.96 last week and there is no clear sign of bottoming yet. Initial bias stays on the downside this week for 127.91 first. Break there will target 126.58 medium term fibonacci level next. On the upside, break of 129.97 minor resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor in case of 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.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Long term outlook will remain neutral until breakout from the range of 109.03/137.49.

Daily Pivots: (S1) 131.22; (P) 131.71; (R1) 132.16; More….

Intraday bias in EUR/JPY is turned neutral with a temporary top formed at 132.11. Some consolidations could be seen first. But downside should be contained well above 128.23 support to bring another rally. As noted before, corrective pattern from 134.11 should have completed three waves down to 127.36. Above 132.11 will bring retest of 133.44/134.11 resistance zone. Decisive break there will resume larger up trend from 114.42.

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) 138.98; (P) 139.72; (R1) 140.16; More….

EUR/JPY’s decline from 148.38 resumed by breaking through 138.79 support and intraday bias is back on the downside. Next target is 135.40 fibonacci level. On the upside, above 140.00 minor resistance will turn intraday bias neutral first. But further decline will be expected as long as 142.92 resistance holds, in case of recovery.

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. Sustained break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

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) 129.90; (P) 130.45; (R1) 130.87; More….

EUR/JPY’s rally resumed after brief retreat and intraday bias is back on the upside. As noted before, whole consolidation from 134.11 could have completed with three waves down to 127.36, ahead of 126.58 medium term fibonacci level. Rise from 127.36 should target a test on 133.44/134.11 resistance zone. On the downside, break of 130.01 minor support will turn bias neutral for consolidations first.

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) 122.50; (P) 122.69; (R1) 122.86; More….

Break of 122.76 temporary top suggests rally resumption in EUR/JPY. Intraday bias is back on the upside. Rise from 115.86 should target medium term channel resistance (now at 123.97). Sustained break there will carry larger bullish implication. On the downside, break of 122.18 minor support will indicate short term top and bring deeper pull back.

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) 130.57; (P) 131.72; (R1) 132.42; More….

EUR/JPY’s fall from 134.11 continues today and intraday bias stays on the downside for 38.2% retracement of 121.63 to 134.11 at 129.34. It’s seen as a correction to rise from 121.63 for now. Hence, we’d expect strong support from 129.34 to contain downside and bring rebound. On the upside, above 131.41 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. 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). For now, outlook will stay bullish as long as 127.07 resistance turned support holds, in case of pull back.

Daily Pivots: (S1) 140.83; (P) 141.23; (R1) 141.70; More….

EUR/JPY is still bounded in range of 137.37/142.84 and intraday bias stays neutral. On the downside, break of 137.37 will resume the whole decline from 148.38 to 135.40 fibonacci level next. However, firm break of 142.84 will argue that the correction from 148.38 has completed, and bring stronger rise back to 146.71 resistance.

In the bigger picture, as long as 55 week EMA (now at 138.81) 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) 170.43; (P) 171.01; (R1) 172.02; More…

EUR/JPY recovered after dipping to 169.98 and intraday bias is turned neutral first. Further fall is in favor as long as 172.91 resistance holds. Sustained trading below 55 D EMA (now at 170.30) will target 38.2% retracement of 153.15 to 175.41 at 166.90, as a correction to whole rise from 153.15. On the upside, though, break of 172.91 resistance will revive near term bullishness and bring retest of 175.41 high.

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) 156.53; (P) 157.50; (R1) 158.01; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. Deeper decline will remain in favor as long as 158.64 resistance holds. On the downside, break of 156.57 support, and sustained trading below 55 D EMA (now at 157.02) will argue that fall from 159.75 is a larger scale correction. Deeper decline would be seen back towards 151.39 support. Nevertheless, above 158.64 would bring retest of 159.75 high instead.

In the bigger picture, as long as 151.39 support holds, rise from 114.42 (2020 low) is still expected to continue. 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.

EUR/JPY roses further to 160.17 last week but retreated ahead of 100% projection of 153.15 to 158.55 from 155.06 at 160.46. Initial bias remains neutral this week first. Further rise is mildly in favor as long as 157.19 minor support holds. Firm break of 160.46 will pave the way to 161.8% projection at 163.79. However, break of 157.19 support will argue that the rebound has completed, and turn bias back to the downside.

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.

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) 123.17; (P) 123.79; (R1) 124.28; More…

No change in EUR/JPY’s outlook despite diminishing upside moment as seen in 4 hour MACD. Further rally is expected with 122.92 minor support intact. Firm break of 124.08 resistance will confirm resumption of whole rise from 109.20. In that case, EUR/JPY would target 126.09 resistance first. Break there will pave the way to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. On the downside, below 122.92 minor support will turn bias to the downside and bring pull back.

In the bigger picture, focus is back on 126.09 support turned resistance. Decisive break there will confirm completion of the down trend from 149.76. And in such case, rise from 109.20 is at the same degree and should target 141.04 resistance and above. Meanwhile, rejection from 126.09 and break of 114.84 will extend the fall from 149.76 through 109.20 low.

EUR/JPY dropped further to 120.78 last week but turned sideway after touching 120.78 support. Initial bias is neutral this week first. Larger decline from 127.50 should be ready to resume too. Firm break of 120.78 will confirm and target 118.62 low. On the upside, break of 122.32 resistance will extend the consolidation from 120.78 with another rise towards 123.35 resistance instead.

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.

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. Break of 118.62 will extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is now the preferred case.

Daily Pivots: (S1) 127.37; (P) 128.17; (R1) 128.59; More….

Intraday bias in EUR/JPY remains mildly on the downside for retesting 127.36 support. Firm break there will resume fall from 133.44 and larger pattern from 134.11. Next target is 126.58 medium term fibonacci level. On the upside, above 128.43 minor resistance will delay the bearish case and turn intraday bias neutral first.

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) 128.58; (P) 129.07; (R1) 129.43; More….

EUR/JPY is staying in range of 127.13/130.33 and intraday bias remains neutral at this point. On the upside, break of 130.33 will resume the rebound from 124.61. And by then, EUR/JPY should have also taken out near term falling channel decisively. That would be a strong sign of trend reversal. In that case, further rise should be seen to 133.47 resistance for confirmation. On the downside, break of 127.13 will bring retest of 124.61 low instead.

In the bigger picture, for now, EUR/JPY is holding above 124.08 key resistance turned support. Fall from 137.49 could be proven to be a correction. Decisive break of 133.47 resistance will confirm its completion and should extend the rise from 109.03 (2016 low) through 137.49 high. However, 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.