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.

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.

Daily Pivots: (S1) 161.29; (P) 161.55; (R1) 161.72; More….

Despite some loss of momentum as seen in 4H MACD, intraday bias in EUR/JPY stays on the upside. Current rally should target 163.06 projection level next. But strong resistance could be seen there to limit upside on first attempt. 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) 122.32; (P) 122.65; (R1) 123.09; More….

Intraday bias in EUR/JPY remain neutral for consolidations above 121.63 temporary low. As long as 125.08 resistance holds, the corrective decline from 127.07 is still expected to extend lower. On the downside, break of 121.63 will target 61.8% retracement of 114.42 to 127.07 at 119.25, which is close to 119.31 key support. We’d look for strong support there to contain downside to bring rebound.

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) 162.90; (P) 163.67; (R1) 164.68; More…

Range trading continues in EUR/JPY and intraday bias stays neutral. On the upside, firm break of 165.33 will resume larger up trend towards 169.96 key resistance next. However, decisive break of 162.26 support will argue that it’s at least correcting the rise from 153.15, and target 38.2% retracement of 153.15 to 165.33 at 160.67.

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) 136.31; (P) 136.98; (R1) 137.43; More….

Intraday bias in EUR/JPY stays neutral and consolidation from 139.99 could extend further. Downside should be contained by 38.2% retracement of 124.37 to 139.99 at 134.02 to bring rebound. On the upside, firm break of 139.99 will resume larger up trend for 144.06 medium term projection level.

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) 118.07; (P) 118.60; (R1) 118.92; More…

EUR/JPY drops further to as low as 117.67 so far today and intraday bias remains on the downside. Next downside target is 161.8% projection of 123.35 to 120.05 from 121.37 at 116.03. On the upside, above 118.92 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited by 120.05 support turned resistance to bring fall resumption.

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) 121.00; (P) 121.49; (R1) 122.17; More….

Intraday bias in EUR/JPY remains neutral first. On the upside, break of 121.96 will resume the choppy rebound from 119.31 to retest 124.43 high. On the downside, break of 120.27 will turn bias to the downside for 119.31. Break will resume the decline from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24.

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

Daily Pivots: (S1) 130.63; (P) 131.03; (R1) 131.35; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 131.97 temporary top. Outlook is unchanged that as long as 129.90 minor support holds, further rise is still in favor. Above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 129.90 will indicate short term reversal, with bearish divergence condition in 4 hour MACD, and turn bias back to the downside for 127.13 support.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there as completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 163.45; (P) 163.84; (R1) 164.60; More….

EUR/JPY’s rally continues today and intraday bias stays on the upside. Next near term target is 61.8% projection of 139.05 to 159.75 from 154.32 at 167.11. On the downside, below 163.05 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 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) 124.53; (P) 124.80; (R1) 125.14; More…

Intraday bias in EUR/JPY remains neutral as the consolidation from 125.80 continues. Deeper fall cannot be ruled out down we’d expect downside to be contained by 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 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) 155.22; (P) 155.78; (R1) 156.46; More….

Further rise could still seen in EUR/JPY to retest 157.99 high. Firm break there will resume larger up trend. On the downside, break of 153.32 will extend the pull back from 157.99 to 55 D EMA (now at 152.73) and possibly below.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

Daily Pivots: (S1) 154.70; (P) 156.09; (R1) 156.79; More..

EUR/JPY’s break of 155.98 minor support suggests that recovery from 153.15 has completed at 157.67 already. Intraday bias is back on the downside for retesting 153.15 first. Firm break there will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69. For now, outlook will remain cautiously bearish as long as 157.67 resistance holds, in case of recovery.

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) 164.02; (P) 164.51; (R1) 165.01; More…

Intraday bias in EUR/JPY remains neutral at this point. Consolidation from 165.33 is possibly extending with another falling leg, and deeper decline could be seen. But outlook stays bullish as long as 162.59 support holds. On the upside, firm break of 165.33 will resume larger up trend towards 169.96 key resistance next. On the downside, though, break of 162.59 will turn bias to the downside for 160.20 support next.

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.

EUR/JPY edged lower to 117.67 last week. but turned into consolidation since then. Initial bias remains neutral this week first and some more sideway trading could be seen. 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.

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 will remain the preferred case.

Daily Pivots: (S1) 140.96; (P) 142.48; (R1) 143.53; More….

Intraday bias in EUR/JPY is mildly on the downside at this point. Current fall is viewed as the third leg of the consolidation from 144.23. Deeper decline could be seen to 137.83 support. On the upside, decisive break of 144.23 will resume larger up trend.

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) 117.51; (P) 117.78; (R1) 118.04; More….

EUR/JPY recovers after hitting 117.55 minor support and intraday bias remains neutral first. On the downside, firm break of 117.55 will suggest completion of rebound from 115.86. Intraday bias will be turned to the downside for retesting 115.86 first. On the upside, break of 120.01 will resume the rebound through 61.8% retracement of 123.35 to 115.86 at 120.48.

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) 125.14; (P) 125.33; (R1) 125.79; More….

EUR/JPY’s break of 124.96 minor support suggests that rebound from 123.65 has completed. Intraday bias is turned back to the downside for 123.65 support first. Break there will resume whole fall from 127.50 and target 61.8% retracement of 118.62 to 127.05 at 121.84. On the upside, though, above 125.61 will resume the rebound to 126.78/127.50 resistance zone.

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) 139.70; (P) 140.82; (R1) 141.55; More….

EUR/JPY is still bounded in range of 137.37/142.84 and intraday bias remains neutral. On the downside, firm break of 155.33 will resume the whole decline from 148.38 to 135.40 fibonacci level next. On the upside, decisive break of 142.84 resistance will argue that the correction from 148.38 has completed. Stronger rally should then be seen 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.