Daily Pivots: (S1) 128.66; (P) 128.91; (R1) 129.28; More….

No change EUR/JPY’s outlook and intraday bias remains neutral first. While another rise cannot be ruled out, near term outlook will remain bearish as long as 130.14 resistance holds. On the downside, break of 127.83 minor support should resume the fall from 130.14 and target 126.63 low. Break will extend the decline from 133.12 to 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.

EUR/JPY recovered after dipping to 130.03 last week and initial bias stays neutral this week first. Corrective pattern from 134.11 is seen as extending with another falling leg. Break of 130.03 will bring deeper fall to 128.23 support first. Break will target 127.36 support and below. On the upside, however, break of 133.13 will bring retest of 134.11 high.

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.

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) 117.77; (P) 118.27; (R1) 118.54; More…

With 119.31 support turned resistance intact, deeper fall is expected in EUR/JPY. Current development suggests that medium term rise from 109.20 has completed at 124.08 already. Below 117.42 will target 61.8% retracement of 109.20 to 124.08 at 114.88 next. Nonetheless, sustained break of 119.31 will turn focus back to 120.43 resistance instead.

In the bigger picture, the firm break of 38.2% retracement of 109.20 to 124.08 at 118.39 indicates that medium term rise from 109.20 is completed at 124.08. That’s well below 126.09 key support turned resistance. Also, EUR/JPY failed to sustain above 55 week EMA. Deeper decline would now be seen back to 109.20 low. Overall, the down trend from 149.76 (2014 high) is not completed yet. Break of 109.20 will resume such down trend towards 94.11 low. In any case, break of 126.09 is needed needed to confirm medium term reversal.

Daily Pivots: (S1) 119.99; (P) 120.25; (R1) 120.49; More….

EUR/JPY failed to sustain above 120.63 minor resistance and retreated. Intraday bias remains neutral first. 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.

EUR/JPY rose to as high as 140.36 last week and the break of 139.99 resistance should confirm up trend resumption. Initial bias stays on the upside this week for 61.8% projection of 124.37 to 139.99 from 132.63 at 142.28. On the downside, below 138.18 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 132.63 support holds, in case of deep pull back.

In the long term picture, current rally could be resuming whole rise from 94.11 (2012 low). Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 132.63 support holds.

Daily Pivots: (S1) 173.97; (P) 174.21; (R1) 174.61; More…

Intraday bias in EUR/JPY is turned neutral first with current retreat, and some consolidations would be seen below 174.50. Further rally is expected as long as 170.87 resistance turned support holds, in case of deeper retreat. Firm break of 174.50 will target 138.2% projection of 164.01 to 170.87 from 167.52 at 177.00.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 167.52 support holds, even in case of deep pullback.

Daily Pivots: (S1) 160.41; (P) 161.06; (R1) 161.70; More…

EUR/JPY’s consolidation from 161.84 is still in progress and intraday bias remains neutral. Further rally is expected as long as 158.55 resistance turned support holds. On the upside, break of 161.84 will resume whole rally from 153.15 to 161.8% projection of 153.15 to 158.55 from 155.06 at 163.79, which is close to 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 148.48 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.

Daily Pivots: (S1) 148.46; (P) 148.86; (R1) 149.65; More….

Intraday bias in EUR/JPY remains neutral first. Firm break of 149.25 resistance will argue that pull back from 151.60 has completed at 146.12 already. Stronger rally should be seen back to retest 151.60. On the downside, however, break of 146.12 will resume the fall to 61.8% retracement of 139.05 to 151.60 at 143.84.

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) 125.58; (P) 126.29; (R1) 126.76; More….

EUR/JPY is staying in consolidation from 125.13 and intraday bias remains neutral first. More corrective trading could be seen and stronger recovery cannot be ruled out. But upside should be limited well below 128.49 support turned resistance to bring fall resumption. On the downside, break of 125.13 will target 124.61 key support next.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

EUR/JPY’s rebound from 153.32 extended higher last week and it’s now pressing 157.99 high. Decisive break there will confirm resumption of larger up trend, and target 162.82 projection level next. Further rally will now in favor as long as 155.57 minor support holds, in case of retreat.

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.

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 109.03 at 164.68, and possibly further to 169.96 (2008 high).

Daily Pivots: (S1) 157.27; (P) 157.64; (R1) 158.04; More….

Intraday bias in EUR/JPY stays on the upside for 100% projection of 139.05 to 151.60 from 146.12 at 158.67. Firm break there will target 138.2% projection at 163.46 next. Considering bearish divergence condition in 4H MACD, break of 155.74 minor support will indicate short term topping, and turn bias back to the downside for deeper pull back.

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 151.60 resistance turned support holds, even in case of deep pull back.

EUR/JPY edged lower to 122.08 last week as fall from 127.50 extended. But as a temporary was formed, initial bias is neutral for some consolidations first. Upside of recovery should be limited by 124.09 support turned resistance to bring fall resumption. On the downside, break of 122.08 will target a test on 118.62 low.

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.

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 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

Daily Pivots: (S1) 129.35; (P) 129.65; (R1) 130.23; More….

Intraday bias in EUR/JPY is turned neutral as a temporary low is formed at 129.02 with current recovery. But further decline is expected as long as 130.58 resistance holds. On the downside, break of 129.02 will resume the fall from 133.44 to 127.92 key support. Firm break there will carry larger bearish implication. On the upside, however, break of 130.58 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). However, sustained break of 127.91 support will argue that a medium term top is formed, and turn outlook bearish for deeper fall.

Daily Pivots: (S1) 121.99; (P) 122.31; (R1) 122.86; More….

No change in EUR/JPY’s outlook as consolidation from 120.78 is extending. In case of stronger rise, upside upside should be limited below 123.73 resistance to bring fall resumption eventually. On the downside, below 121.65 minor support will turn bias to the downside for 120.78 low. Decisive break there will resume the decline from 127.50 and target 118.62 low next.

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.

Daily Pivots: (S1) 130.48; (P) 130.94; (R1) 131.74; More…

Intraday bias in EUR/JPY remains on the upside for the moment. Current rally is now expected to target long term fibonacci level at 134.20. On the downside, break of 129.83 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 125.80 resistance turned support holds.

Daily Pivots: (S1) 128.27; (P) 128.51; (R1) 128.97; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. 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) 128.66; (P) 129.19; (R1) 129.95; More…

With 129.92 minor resistance intact, correction from 131.39 short term top could extend lower. At this point, we’d expect strong support from 38.2% retracement of 122.39 to 131.39 at 127.95 to contain downside and bring rebound. Above 129.92 will turn bias to the upside for retesting 131.39 first. Nonetheless, firm break of 127.95 will bring deeper decline to 125.80 resistance turned support before completing the correction.

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.

Daily Pivots: (S1) 173.79; (P) 174.14; (R1) 174.57; More…

EUR/JPY dips mildly today but stays above 173.07 minor support. Intraday bias remains neutral for the moment. More sideway trading could be seen first. On the upside, firm break of 174.50 will resume the larger up trend and target 138.2% projection of 164.01 to 170.87 from 167.52 at 177.00. On the downside, however, break of 173.07 will turn bias to the downside for deeper pullback.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 170.7 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 119.09; (P) 120.04; (R1) 121.27; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. 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) 124.64; (P) 125.14; (R1) 125.86; More….

With 124.44 support intact, intraday bias in EUR/JPY remains neutral first. Larger rise is in favor to continue and break of 127.07 will resume the rally from 114.42, to 128.67 fibonacci level. Nevertheless, considering bearish divergence condition in daily MACD, firm break of 124.44 will confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 124.01) and further to 38.2% retracement of 114.42 to 127.07 at 122.23.

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.