Daily Pivots: (S1) 142.96; (P) 143.91; (R1) 144.64; More….

EUR/JPY’s choppy decline from 148.48 resumed by breaking through 142.54 support. Intraday bias is back on the downside. Deeper fall would be seen to 61.8% retracement of 133.38 to 148.38 at 139.11. For now, further decline will remain in favor as long as 144.83 resistance holds, in case of recovery.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through 148.38 to 149.76 (2014 high). However, break of 137.32 support argue that a medium term correction has already started to correct the whole up trend from 114.42.

Daily Pivots: (S1) 120.06; (P) 120.38; (R1) 120.65; More….

Intraday bias in EUR/JPY remains neutral with focus on 120.63 minor resistance. Break will suggests that corrective fall from 121.46 has completed at 119.24, and rise from 115.86 is ready to resume. Further rise should then be seen to 121.46 resistance for confirmation. Break there will target 123.35 structural resistance. In any case, outlook will remain bullish as long as 119.11 support holds, in case of another retreat.

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) 118.07; (P) 119.00; (R1) 120.28; More….

Outlook in EUR/JPY is unchanged and intraday bias remains neutral. 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.

EUR/JPY spiraled higher last week as rebound from 154.32 extends. Initial bias stays on the upside this week for retesting 159.75 resistance. Decisive break there will resume larger up trend. On the downside, break of 157.03 support is needed to signal completion of the rebound. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, price actions from 159.75 are views as a corrective pattern. As long as 151.39 support holds, rise from 114.42 (2020 low) is expected to continue through 159.75. Next target will be 100% projection of 124.37 to 148.38 from 139.05 at 163.06.

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) 128.11; (P) 128.44; (R1) 129.06; More…

No change in EUR/JPY’s outlook as fall from 131.39 is still in progress. Such decline is seen as correcting whole rise from 141.84 with break of channel support. Deeper decline would be seen to 38.2% retracement of 114.84 to 131.39 at 125.05 before completion. On the upside, break of 130.38 resistance is needed to confirm completion of the pull back. Otherwise, deeper decline is expected even in case of recovery.

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. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.

Daily Pivots: (S1) 157.30; (P) 157.61; (R1) 157.91; More….

Sideway trading continues in EUR/JPY above 156.57 support 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 156.95) 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) 127.62; (P) 128.09; (R1) 129.69; More….

EUR/JPY is losing some downside momentum, but further decline is expected as long as 129.58 minor resistance holds. Corrective pattern from 134.11 should target 126.58 medium term fibonacci level next. On the upside, however, break of 129.58 resistance will indicate short term bottoming, and turn bias back to the upside for rebound back towards 133.44 high.

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 rebounded strongly after dipping to 137.32 last week, but stays below 142.28 resistance. Initial bias remains neutral this week first. On the upside, break of 142.28 will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 139.40 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

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.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

Daily Pivots: (S1) 129.53; (P) 130.01; (R1) 130.33; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, firm break of 130.73 resistance will argue that correction from 134.11 has completed and turn near term outlook bullish for retesting this high. On the downside, break of 129.36 minor support will turn bias back to the downside for retesting 127.91 instead.

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.

Daily Pivots: (S1) 124.38; (P) 124.76; (R1) 124.96; More….

EUR/JPY is staying in consolidation from 124.09 temporary low and intraday bias remains neutral. Upside of the consolidation should be limited by 125.29 resistance to bring another decline. Fall from 126.79 is seen as the third leg of the corrective pattern from 127.50. On the downside, break of 124.09 will target 123.65 support and below. However, sustained break of 125.28 will turn focus back to 126.79 resistance instead.

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) 122.85; (P) 123.25; (R1) 123.91; More…

EUR/JPY edges higher to 124.48 earlier today but quickly retreats. With 122.92 minor support intact, intraday bias stays on the upside for the moment. Firm break of 124.08 key 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 neutral and bring retreat first.

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.

Daily Pivots: (S1) 119.24; (P) 120.00; (R1) 121.36; More….

Intraday bias in EUR/JPY remains neutral first. Further decline remains mildly in favor with 121.39 resistance intact. larger rebound from 115.86 should have completed at 122.87. Break of 118.37 will target 100% projection of 122.87 to 118.46 from 121.39 at 116.98 next. However, firm break of 121.39 will revive near term bullishness and bring retest of 122.87 resistance first.

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) 135.34; (P) 136.13; (R1) 137.31; More….

Intraday bias in EUR/JPY stays neutral at this point. Overall, it’s staying in the corrective pattern from 144.26. On the upside, above 138.38 will resume the rebound from 138.38. On the downside, below 134.93 will turn bias back to the downside for 133.38 support.

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. Next target is 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 stayed in consolidation from 119.31 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 122.11 resistance holds, further decline is expected. Break of 119.31 will resume the fall from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24. On the upside, however, break of 122.11 will turn bias back to the upside for retesting 124.43 instead.

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 119.60) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Sustained break of 55 month EMA (now at 124.40) should confirm the start of another medium term rising leg.

EUR/JPY rose to as high as 134.37 last week but failed to take out 134.48 high and retreated sharply. Initial bias is neutral this week first. For the momentum, we’re favoring the case that medium term up trend is nearly ready to resume. Break of 134.48 will target 61.8% projection of 127.55 to 134.48 from 131.16 at 135.44 and then 100% projection at 138.09. However, firm 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). 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 suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

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) 126.00; (P) 126.31; (R1) 126.70; More….

Intraday bias in EUR/JPY remains neutral for more consolidations first. 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) 129.41; (P) 130.15; (R1) 130.55; More….

EUR/JPY’s fall from 133.13 resumed by breaking 130.03 temporary low and intraday bias is back on the downside. outlook is unchanged that corrective pattern from 134.11 is seen as extending with another falling leg. Deeper decline should be seen to 128.23 support first. Break there will target 127.36 support and possibly first to 126.58 medium term fibonacci level. For now, risk will stay on the downside as long as 131.89 minor resistance holds, in case of recovery.

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) 124.21; (P) 124.76; (R1) 125.10; More…

Intraday bias in EUR?JPY remains neutral for the moment as consolidation from 125.80 is still in progress. In case of another fall, downside should be contained by 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rise resumption. We’re staying mildly bullish in the cross. And, break of 126.09 key resistance will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. Nonetheless, firm break of 121.61 will dampen our bullish view and bring deeper fall to 61.8% retracement at 119.02.

In the bigger picture, focus is staying 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.

Daily Pivots: (S1) 138.18; (P) 138.57; (R1) 139.05; More….

Intraday bias in EUR/JPY remains on the upside. Larger up trend should be resuming. Break of 139.99 resistance will confirm, and target 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28. On the downside, below 136.79 minor support will delay the bearish case and turn intraday bias again first.

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 124.37 support holds, in case of deep pull back.

Daily Pivots: (S1) 130.41; (P) 130.62; (R1) 130.92; More….

EUR/JPY is staying in consolidation form 131.59 and intraday bias remains neutral first. On the upside, break of 131.59 resistance will reaffirm the bullish case that consolidation from 134.11 could have completed with three waves down to 127.36, ahead of 126.58 medium term fibonacci level. Further rally would then be seen to retest 133.44/134.11 resistance zone. On the downside break of 129.59 minor support will argue that rebound from 127.36 has completed and turn bias back to the downside for this support.

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.