Daily Pivots: (S1) 126.06; (P) 126.48; (R1) 127.08; More….

Intraday bias in EUR/JPY remains on the upside. Current rise from 118.62 low should target 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) 125.15; (P) 125.33; (R1) 125.47; More….

Intraday bias in EUR/JPY remains neutral at this point. Current development argues that corrective pull back from 127.50 might have completed already. Hence, further rise is expected as long as 124.47 minor support intact. On the upside, above 125.50 will turn bias to the upside for 126.78/127.50 resistance zone. However, on the downside, break of 124.47 will turn bias back to the downside for 123.65 support instead.

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) 134.63; (P) 136.08; (R1) 136.82; More….

EUR/JPY’s pull back from 139.99 is still in progress and deeper fall could be seen to 38.2% retracement of 124.37 to 139.99 at 134.02. Downside should be contained there to bring rebound. On the upside, above 137.52 minor resistance will bring retest of 139.99 resistance first. However, firm break of 134.02 will bring deeper decline to 61.8% retracement at 130.33.

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) 137.05; (P) 138.54; (R1) 139.68; More….

Intraday bias in EUR/JPY remains on the downside at this point. Current fall from 148.38 should target 135.40 fibonacci level. On the upside, above 140.00 minor resistance will turn intraday bias neutral first. But further decline will be expected as long as 142.92 resistance holds, in case of recovery.

In the bigger picture, as long as 55 week EMA (now at 138.54) 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) 136.89; (P) 137.53; (R1) 138.31; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 139.99 is still extending. In case of another decline, 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) 138.45; (P) 138.87; (R1) 139.51; More….

Intraday bias in EUR/JPY is turned neutral first as it recovered ahead of 137.37 support. Outlook will stay bearish as long as 142.84 resistance holds. Break of 137.37 will resume whole decline from 148.38 to 135.40 fibonacci level next.

In the bigger picture, as long as 55 week EMA (now at 138.64) 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) 129.91; (P) 130.23; (R1) 130.65; More….

Intraday bias in EUR/JPY remains neutral for the moment. Consolidation from 130.65 could extend with another fall. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42.

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 125.07 support holds. Next target is 137.49 (2018 high).

Daily Pivots: (S1) 128.31; (P) 128.98; (R1) 129.49; More….

Intraday bias in EUR/JPY is turned neutral again as it retreated deeply after rising to 129.62. On the upside, sustained trading above 55 day EMA (now at 129.49) will affirm the case that corrective pattern from1 34.11 has completed. Further rise should be seen back to 133.44/134.11 resistance zone. On the downside, break of 127.99 minor support will resume fall from 133.44 through 127.36 to 126.58 medium term fibonacci level.

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) 121.79; (P) 122.03; (R1) 122.25;  More….

EUR/JPY’s decline resumed after brief consolidation and intraday bias is back on the downside. Current fall from 127.50 should target a test on 118.62 low next. On the upside, above 122.26 minor resistance will turn intraday bias neutral first. But recovery should be limited below 123.73 resistance to bring fall resumption.

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) 154.53; (P) 155.29; (R1) 156.72; More..

EUR/JPY recovered ahead of 153.15 support and intraday bias is turned neutral. Near term outlook stay bearish as long as 157.67 resistance intact. On the downside decisive break of 153.15 will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69.

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.

EUR/JPY rebounded after dipping to 134.76 but lacked follow through buying. Initial bias is neutral this week first. Consolidation from 139.99 could extend further. But 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.

In the long term picture, focus stays on 137.49 resistance (2018 high). Sustained break there will raise the chance that whole rise from 94.11 (2012 low) is resuming through 149.76 resistance. This will be a slightly favored case for now, as long as 124.37 support holds.

EUR/JPY continued to stay in range above 116.12 last week and outlook is unchanged. Initial bias remains neutral this week first. 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.

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 125.11), this is the preferred case.

Daily Pivots: (S1) 125.76; (P) 126.18; (R1) 126.39; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 126.74 is extending. Further rise is mildly in favor as long as 125.13 resistance turned support holds. On the upside, decisive break of 127.07 will resume whole rise from 114.42. Next target will be 128.67 medium term fibonacci level. On the downside, however, break of 125.13 resistance turned support will turn bias to the downside, to extend the consolidation from 127.07 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 next. 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) 129.21; (P) 129.75; (R1) 130.77; More….

EUR/JPY dropped sharply after failing to sustain above 4 hour 55 EMA and drops sharply today. On the downside, break of 127.90 will resume the decline from 133.13, as another falling leg of the corrective pattern from 134.11, through 127.36 support to 126.58 fibonacci level. For now, risk will remain on the downside as long as 130.27 minor resistance holds.

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) 160.32; (P) 160.81; (R1) 161.71; More…

Intraday bias in EUR/JPY remains on the upside at this point. Current rise from 153.15 is in progress for 161.8% projection of 153.15 to 158.55 from 155.06 at 163.79, which is close to 164.29 high. On the downside, below 160.03 minor support will turn intraday bias neutral first. But further rally is expected as long as 158.55 resistance turned support holds.

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) 117.32; (P) 117.96; (R1) 118.65; More….

Intraday bias in EUR/JPY remains on the upside as rebound from 115.86 is still in progress. Break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 11.7.28 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) 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 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 131.07; (P) 131.41; (R1) 131.72; More…

Intraday bias in EUR/JPY remains neutral for the moment. Near term outlook remains bullish with 129.36 support intact and further rise is expected. Break of 132.00 will turn bias back to the upside and target 134.20 fibonacci level next. However, considering bearish divergence condition in 4 hour MACD, break of 129.36 will indicate short term topping and turn bias to the downside for 127.55 support instead.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). as long as 124.08 resistance turned support holds, 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. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.

Daily Pivots: (S1) 125.57; (P) 125.94; (R1) 126.50; More….

EUR/JPY edged higher to 126.30 but failed to sustain above 125.95 resistance. Intraday bias stays neutral first. On the downside, break of 124.23 support will suggest completion of rebound from 118.62 after rejection by 55 day EMA. Deeper fall would then be seen back to retest 118.62 low. However, decisive break of 126.30 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 (2018 high) 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. This will remain the favored case as long as 129.25 resistance holds.

Daily Pivots: (S1) 121.52; (P) 121.96; (R1) 122.67; More….

Intraday bias in EUR/JPY remains neutral as corrective rise from 120.78 is extending. Upside is still expected to be limited below 123.73 resistance to bring fail resumption. On the downside, break of 120.78 will resume the fall 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 123.73 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) 137.30; (P) 138.05; (R1) 138.97; More….

Intraday bias in EUR/JPY stays neutral first. On the upside, firm break of 139.78 minor resistance will argue that pull back from 144.26 has completed at 136.85. Further rally would be seen back to retest 144.26 high. On the downside, though, below 136.85 will resume the fall back to 132.63 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. Firm break of 139.78 will target 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.