Daily Pivots: (S1) 156.80; (P) 157.42; (R1) 157.80; More….

Intraday bias in EUR/JPY remains neutral at this point. For now, the favored case is still that correction from 159.75 has completed at 154.32. Above 158.60 will resume the rise from 154.32 and target 159.75 high. However, break of 156.50 will dampen this view, and bring another fall to extend the corrective pattern from 159.75.

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 at a later stage. Nevertheless, firm break of 151.39 will confirm medium term topping, and bring lengthier and deeper correction.

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) 171.11; (P) 171.45; (R1) 172.06; More…

Intraday bias in EUR/JPY is back on the upside as recent rally resumed after brief consolidations. Sustained break of 61.8% projection of 164.01 to 170.87 from 167.52 at 171.75 will target 100% projection at 174.38. On the downside, below 170.69 minor support will turn intraday bias neutral against first.

In the bigger picture, strong support from 55 D EMA indicates that the long term up trend is still in progress. Decisive break of 171.58 will confirm resumption and target 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 164.01 support holds, even in case of deep pullback.

Daily Pivots: (S1) 157.14; (P) 157.52; (R1) 158.12; More….

EUR/JPY’s break of 158.03 resistance indicates resumption of larger up trend. Intraday bias is back on the upside. Further rally should be seen to 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next. For now, outlook will stay bullish as long as 156.33 support holds, in case of retreat.

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. Sustained break there will pave the way to retest long term resistance at 169.96. This will now remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 132.14; (P) 132.56; (R1) 133.00; More….

EUR/JPY edged higher to 132.96 but upside momentum is unconvincing as seen in 4 hour MACD. Intraday bias stays neutral first. In case of another retreat, downside should be contained by 131.09 minor support to bring rebound resumption. Above 132.96 will extend the rebound from 128.94 to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 129.94; (P) 130.40; (R1) 131.20; More….

EUR/JPY’s rally from 124.89 is still in progress and reaches as high as 130.86 so far. Intraday bias stays on the upside for resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. On the downside, below 129.57 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might now be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 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.

Daily Pivots: (S1) 122.48; (P) 122.95; (R1) 123.32; More….

EUR/JPY’s decline resumed after brief consolidation and reaches as low as 122.08 so far. Intraday bias is back on the downside. Current fall from 127.50 should extend to retest 118.62 low. On the upside, break of 123.61 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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.

Daily Pivots: (S1) 128.51; (P) 128.69; (R1) 128.89; More….

A temporary low is in place at 128.49 with 4 hour MACD crossed above signal line. Intraday bias in EUR/JPY is turned neutral first. Upside of recovery should be limited by 129.52 minor resistance to bring another fall. Rebound from 124.61 could have completed with three waves up to 131.97 already. Below 128.49 will target 127.13 support for confirmation. Overall, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of strong rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

EUR/JPY gyrated lower last week with weak downside momentum. Initial bias stays mildly on the downside this week for 115.86/116.12 support zone. Decisive break there will confirm larger down trend resumption. On the upside, break of 119.03 will extend recent consolidation from 115.86 with another rise leg.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high), as well as below falling 55 week EMA. As long as 122.87 resistance holds, the down trend form 137.49 should extend to 109.48 (2016 low). However, sustained break of 122.87 will indicate medium term bullish reversal.

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. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA (now at 124.84), this is the preferred case.

EUR/JPY edged higher to 125.09 last week but failed to sustain above 124.61 resistance, as well as 4 hour 55 EMA. With 4 hour MACD staying below signal line, initial bias remains neutral this week first. We’d still expect upside to be limited around 124.61 resistance to complete the rebound from 118.62. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 (2012 low) to bring reversal.

Daily Pivots: (S1) 132.03; (P) 132.37; (R1) 132.69; More….

Intraday bias in EUR/JPY stays neutral first with focus on 132.63 resistance. Firm break there would indicate that corrective fall from 134.11 has completed and bring retest of this high. On the downside, break of 131.21 minor support will extend the correction with another fall through 130.02 low. But we’d expect strong support from 38.2% retracement of 121.63 to 134.11 at 129.34 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. 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) 140.41; (P) 140.72; (R1) 141.15; More….

Range trading continues in EUR/JPY and intraday bias stays neutral. On the upside, decisive break of 142.84 will argue that the correction from 148.38 has completed at 137.37 already. Further rise would be seen to 146.71 resistance next. On the downside, firm break of 155.33 will resume the whole decline from 148.38 to 135.40 fibonacci level.

In the bigger picture, as long as 55 week EMA (now at 138.82) 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) 118.95; (P) 119.31; (R1) 119.66; More….

EUR/JPY is staying in tight range below 120.01 and intraday bias remains neutral first. With 117.55 minor support intact, further rise is in favor. 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. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

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) 130.39; (P) 130.88; (R1) 131.27; More….

With 129.99 minor support intact, EUR/JPY’s rebound from 129.22 could extend higher, possibly to 55 day EMA (now at 131.59). But we’d expect strong resistance below 133.47 resistance to bring fall resumption. Below 129.99 minor support will turn bias back to the downside for 128.94. Break will resume the corrective fall from 137.49 and target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18 next.

In the bigger picture, for now, price actions from 137.49 are viewed as a corrective pattern only. Hence, while, deeper decline would be seen, strong support is expected at 38.2% retracement of 109.03 to 137.49 at 126.61 to contain downside and bring rebound. Up trend from 109.03 (2016 low) is expected to resume afterwards. Though, sustained break of 126.61 will be an important sign of trend reversal and will turn focus to 124.08 resistance turned support.

Daily Pivots: (S1) 120.19; (P) 120.73; (R1) 121.03; More….

EUR/JPY reaches as low as 119.93 so far as fall from 122.87 extends. Break of 120.17 support indicates completion of completion of corrective rise from 115.86, on bearish divergence condition in daily MACD. Further fall should be seen to retest 115.86 low. On the upside, above 121.26 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 122.87 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). Rise from 115.86 is seen as a corrective rise. 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.

EUR/JPY’s decline from 124.43 short term top continued last week and hit as low as 119.37. Initial bias remains on the downside this week for 61.8% retracement of 114.42 to 124.43 at 118.24. On the upside, break of 122.11 resistance is needed to indicate completion of the decline. Otherwise, further fall will remain in favor in case of 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 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.19) 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 124.47) should confirm the start of another medium term rising leg.

Daily Pivots: (S1) 125.53; (P) 125.92; (R1) 126.29; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 127.07. Further rise is still expected as long as 124.44 support holds. Break of 127.07 will target 128.67 fibonacci level. However, firm break of 124.44 will confirm short term topping and turn bias to the downside for deeper correction.

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 55 week EMA (now at 121.54) holds. However, sustained break of 55 week EMA will revive medium term bearishness for another low below 114.42 at a later stage.

Daily Pivots: (S1) 131.06; (P) 131.33; (R1) 131.59; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 128.94 is still unfolding. As long as 132.40 holds, near term outlook remains bearish for deeper fall. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.

EUR/JPY dropped to as low as 124.61 last week but formed a short term bottom there and recovered. Initial bias is neutral this week for some more consolidation. In case of another rise, upside should be limited by 128.94 support turned resistance to bring reversal. On the downside, , below 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD and firm break of the medium term channel support. Focus is now on 124.08 resistance turned support. Decisive break there will confirm this bearish case and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 122.24; (P) 122.66; (R1) 122.90; More….

No change in EUR/JPY’s outlook as recovery from 120.78 is seen as a corrective move. Upside should be limited by 123.73 resistance to completion the correction and bring fall resumption. On the downside, below 122.10 minor support will turn bias to the downside for retesting 120.78 first. Break of 120.78 will resume the fall from 127.50 and target 118.62 low next. However, sustained break of 123.73 will indicate short term reversal and turn outlook bullish for 127.50 resistance again.

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.