Daily Pivots: (S1) 120.70; (P) 120.91; (R1) 121.04; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. In case of deeper retreat, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance next.

In the bigger picture, current development argues that a medium term bottom is 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 125.71). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.

Daily Pivots: (S1) 120.75; (P) 120.96; (R1) 121.12; More….

EUR/JPY is staying in consolidation above 120.78 and intraday bias remains neutral first. Larger decline from 127.50 could be ready to resume. 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.

Daily Pivots: (S1) 119.47; (P) 120.00; (R1) 120.42; More…..

Intraday bias in EUR/JPY remains on the downside at this point. Fall from 124.43 is in progress 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 118.89) 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) 130.33; (P) 130.74; (R1) 131.05; More….

EUR/JPY rebounded strongly ahead of 129.22 support and intraday bias is turned neutral first. Near term outlook stays bearish with 131.36 resistance intact and deeper decline is expected. Below 129.22 will target 128.94 first. Break there 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, and possibly further to 126.61 medium term fibonacci level.

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) 169.70; (P) 170.01; (R1) 170.40; More…

EUR/JPY’s break of 170.12 resistance suggests that corrective fall from 170.87 has completed with three waves down to 167.52. Rise from 164.01 might be ready to resume. Intraday bias is back on the upside for 170.87 first. Firm break there will target 61.8% projection of 164.01 to 170.87 from 167.52 at 171.75. On the downside, break of 169.12 minor support will dampen this bullish case and turn intraday bias neutral gain first.

In the bigger picture, as long as 55 W EMA (now at 159.83) holds, price actions from 171.58 medium term top are seen as as correcting the rise from 153.15 only. That is, larger up trend remains in favor to continue as a later stage. Firm break of 171.58 will target 100% projection of 139.05 to 164.29 from 153.15 at 178.38. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 153.15 support.

Daily Pivots: (S1) 130.14; (P) 130.45; (R1) 130.96; More…

EUR/JPY retreats after hitting 130.76. A temporary top is in place and intraday bias is turned neutral for consolidation. But near term outlook remains bullish as long as 127.99 support holds. Above 130.76 will target 100% projection of 114.84 to 125.80 from 122.39 at 133.35 next. However, considering bearish divergence condition in 4 hour MACD, break of 127.99 will bring deeper pull back 55 day EMA (now at 125.13).

In the bigger picture, the break of 126.09 support turned resistance should have confirmed completion of down trend form 149.76 (2014 high), at 109.03 (2016 low). Current rise from 109.03 would now target 61.8% retracement of 149.76 to 109.03 at 134.20 and above. Medium term outlook will remain bullish as long as 122.39 support holds.

Daily Pivots: (S1) 131.70; (P) 132.16; (R1) 132.89; More….

EUR/JPY’s rally continues to as high as 132.61 so far. Breach of 132.40 resistance with solid upside momentum suggests decline from 137.49 has completed at 128.94 already. Intraday bias is now on the upside for 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, break of 131.09 support is needed to indicate completion of the rebound. Otherwise, further rebound will remain in favor in case of retreat.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 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 another, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.40; (P) 132.62; (R1) 133.06; More….

Intraday bias in EUR/JPY remains on the upside for the moment. Current up trend should now target 100% projection of 114.42 to 127.07 from 121.63 at 134.28. On the downside, break of 131.63 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 127.07 resistance turned support holds. 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).

EUR/JPY stayed in range of 124.17/125.95 last week and outlook is unchanged. Initial remains neutral this week first. At this point, we’re favoring the case that rebound from 118.62 has completed at 125.95 already, just ahead of 55 day EMA. On the downside, break of 123.78 will add more credence to this case and target a test on 118.62 low. On the upside, however, decisive break of 125.95 will dampen our bearish view and target 129.25 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 137.49 is likely still in progress. Decisive break of 118.62 will target 161.8% projection of 137.49 to 124.61 from 133.12 at 112.28, which is inside 109.03/114.84 support zone.

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) 157.06; (P) 157.49; (R1) 157.73; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. Some consolidations would be seen first. But further rally is expected as long as 154.03 support holds. Break of 157.99 will resume larger up trend to 162.82 projection level. However, break of 154.03 will argue that larger correction is under way back to 151.60 resistance turned support.

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.

Daily Pivots: (S1) 125.70; (P) 126.03; (R1) 126.52; More….

EUR/JPY’s solid break of 126.30 suggests resumption of rise from 118.62. Also, with 55 day EMA now firmly taken out, further rise should be seen to 129.25 resistance next. Decisive break there will target 133.12 key resistance. On the downside, below 125.89 minor support will turn intraday bias neutral first. But near term outlook will remain cautiously bullish as long as 124.23 support hoods.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed at 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case and turn focus back to 118.62 instead.

Daily Pivots: (S1) 120.12; (P) 120.88; (R1) 122.12; More…..

EUR/JPY continues upside acceleration and hits as high as 122.04 so far today. Intraday bias stays on the upside for 122.87 key resistance next. On the downside, break of 121.24 minor support will turn intraday bias neutral first, before staging another rally.

In the bigger picture, the case of bullish trend reversal is starting to build up as rise from 114.42 is accelerating. Sustained trading below the channel resistance (now at 121.22), will argue that whole down trend from 137.49 (2018 high) has completed at 114.42. Further break of 122.87 resistance will confirm and turn outlook bullish.

Daily Pivots: (S1) 130.93; (P) 131.38; (R1) 131.84; More….

Intraday bias in EUR/JPY remains on the downside. Current development indicate medium term topping at 137.49, on bearish divergence condition in daily MACD. Deeper fall should be seen to 126.61 medium term fibonacci level next. On the upside, break of 133.05 resistance is needed to confirm short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development argues that rise from 109.03 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. On the upside, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

EUR/JPY’s fall from 134.11 resumed last week and edged lower to 127.91. But a temporary low was formed there, and initial bias is turned neutral this week for some consolidations. Near term outlook will stay bearish as long as 130.54 resistance holds. On the downside, break of 127.91 will target 127.07 resistance turned support. That is close to 38.2% retracement of 114.42 to 134.11 at 126.58.

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.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Another rising leg in progress for 137.49 resistance and above.

Daily Pivots: (S1) 132.71; (P) 133.08; (R1) 133.40; More….

Intraday bias in EUR/JPY remains neutral as range trading continues. On the upside, decisive break of 134.39/48 resistance zone will confirm medium term up trend resumption. In that case, 141.04 resistance will be the next time. On the downside, though, decisive break of 131.65 will confirm rejection from 134.20 fibonacci level and confirm near term reversal. And, in such case, intraday bias will be turned to the downside for 127.55 key support level.

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 argue that the medium term trend has reversed and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 137.79; (P) 138.65; (R1) 139.91; More….

Intraday bias in EUR/JPY stays neutral first, as it lost momentum after hitting 137.32. On the downside, break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, break of 142.28 will turn bias back to the upside for retesting 145.62 high.

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 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.

Daily Pivots: (S1) 119.36; (P) 119.95; (R1) 120.49; More….

At this point, further fall is mildly in favor in EUR/JPY to retest 118.46 support. Break will resume whole decline from 122.87. On the upside, above 120.53 minor resistance will turn bias neutral first. Further break of 121.39 will resume the rebound to retest 122.87 high instead.

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) 149.07; (P) 149.55; (R1) 150.45; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. On the downside, below 148.58 will extend the corrective pattern from 151.60 with another falling leg. Deeper fall would be seen to 146.12 support and possibly below. On the upside, however, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level.

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) 148.31; (P) 149.23; (R1) 149.87; More….

Intraday in EUR/JPY is mildly on the downside, as correctively pattern from 151.60 is probably in the third leg. Deeper fall would be seen to 146.12 support, and possibly below. On the upside, however, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level.

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) 117.68; (P) 117.99; (R1) 118.25; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 117.51 is extending. With 119.87 resistance intact, near term outlook remains bearish. On the downside, break of 117.51 will resume the large down trend to 114.84 support next. However, break of 119.87 resistance will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 120.31).

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 confirm medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.