Daily Pivots: (S1) 124.14; (P) 124.59; (R1) 124.88; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. But with 123.84 minor support intact, further rise is still in favor. Break of 125.08 will extend the rebound from 122.37 to retest 127.07 high. Decisive break there will resume larger rally from 114.42. On the downside, however, break of 123.84 will turn bias back to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23 instead.

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) 125.38; (P) 125.76; (R1) 126.11; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 127.07 might extend. Another rise remains in favor as long as 124.44 support holds. Firm break of 127.07 will resume larger rise from 114.42, to 128.67 fibonacci level. However, firm break of 124.44 should, at least, start the correction to such rise from 114.42, and turn bias to the downside for 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.

Daily Pivots: (S1) 135.73; (P) 137.54; (R1) 138.69; More….

EUR/JPY’s decline continues today and hits as low as 135.53 so far. Intraday bias remains on the downside for deeper fall to 134.11 medium term support next. At this point, price actions from 144.26 are still viewed as a corrective pattern only. Strong support should be seen above 134.11 to complete the correction. On the upside, above 137.31 minor resistance will turn intraday bias neutral first.

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. Next target is 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.

EUR/JPY failed to break through 130.65 resistance so far and intraday bias remains neutral first. On the downside, break of 129.56 minor support will extend the consolidation from 130.65 with another fall. Intraday bias will be turned back to the downside for 128.28 support. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 will resume the whole rally from 114.42, for 100% projection of 114.42 to 127.07 from 121.63 at 134.28.

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). Decisive break there will open up the possibility that it’s indeed resuming the up trend from 94.11 (2012 low).

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) 132.74; (P) 132.96; (R1) 133.30; More….

Intraday bias in EUR/JPY remains on the upside for 134.11 high. Firm break there will resume larger up trend from 114.42. Next target is 61.8% projection of 121.63 to 134.11 from 127.91 at 135.62. On the downside, below 132.13 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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). Next target will be 100% projection of 109.03 to 137.49 from 114.42 at 142.88. This will now remain the favored case as long as 127.91 support holds.

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) 117.94; (P) 118.44; (R1) 119.19; More…

EUR/JPY formed a temporary low at 117..67 with current recovery and intraday bias is turned neutral for consolidation. Upside of recovery should be limited by 120.05 support turned resistance fall resumption. On the downside, break of 117.67 will resume recent down trend 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.

EUR/JPY’s decline from 133.47 and break of 132.03 minor support last week suggests that corrective rebound from 128.94 has completed. Initial bias remains mildly on the downside this week for retesting 128.94 low. Break there will resume whole decline from 137.49. On the upside, above 133.47 will extend the rebound. But we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside and bring near term reversal eventually.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. The first leg has completed at 128.94. The second leg might be finished at 133.47 or it might extend. But after all, we’d expect another decline through 128.94 to 38.2% retracement of 109.03 to 137.49 at 126.61 before completing the correction.

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) 138.24; (P) 138.87; (R1) 139.47; More….

EUR/JPY’s retreat from 139.99 continues today but stays well above 134.33 support. Intraday bias remains neutral for the moment, and outlook remains bullish too. On the upside, break of 139.99 will resume larger up trend to 144.06 projection level next. However, sustained break of 134.33 will dampen this bullish case and bring deeper pull back.

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) 131.53; (P) 131.88; (R1) 132.08; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, break of 131.21 support will likely extend the correction from 134.11 through 130.02. But in this case, we’d expect strong support from 38.2% retracement of 121.63 to 134.11 at 129.34 to bring rebound. On the upside, break of 132.68 will bring retest of 134.11 high instead.

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) 124.31; (P) 124.67; (R1) 124.98; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 123.82 temporary low. Some consolidations could be seen and further fall is expected with 125.68 minor resistance intact. On the downside, break of 123.82 will resume the fall from 127.50 to 61.8% retracement of 118.62 to 127.50 at 122.01. However, break of 125.68 will bring stronger rebound back to 127.50 resistance.

In the bigger picture, rebound from 118.62 might have completed earlier than expected at 127.50. EUR/JPY is held well inside medium term falling channel, and below 55 week EMA (now at 127.86). That is, the down trend from 137.49 (2018 high) might still be in progress. Break of 118.62 will target 109.03/114.84 long term support zone. On the upside, however, break of 127.50 will extend the rebound from 118.62 to 133.12 key resistance instead.

Daily Pivots: (S1) 129.93; (P) 130.54; (R1) 131.40; More….

Intraday bias in EUR/JPY remains mildly on the upside for 131.97 resistance. Break there will resume whole rebound from 124.61 and target 133.47 key resistance next. Break there will confirm the bullish case that fall from 137.49 has completed. On the downside, however, below 130.06 minor support will turn focus back to 129.10 instead.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 162.77; (P) 163.06; (R1) 163.49; More…

Intraday bias in EUR/JPY is turned neutral gain with current recovery. On the downside, below 162.59 will resume the fall from 165.33 to 160.20 structural support next. On the upside, however, break of 164.40 minor resistance will bring retest of 165.33 instead.

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) 167.83; (P) 168.24; (R1) 168.98; More…

Intraday bias in EUR/JPY stays on the upside at this point. Rebound from 164.01 is seen as the second leg of the corrective pattern from 171.58. Firm break of 168.64 will target 171.58 high. On the downside, below 167.49 minor support will turn intraday bias neutral first.

In the bigger picture, a medium top could be formed at 171.58 after brief breach of 169.96 (2008 high). As long as 55 W EMA (now at 157.89) holds, fall from there is seen as correcting the rise from 153.15 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 153.15 support.

Daily Pivots: (S1) 134.36; (P) 134.62; (R1) 134.79; More….

With 133.91 minor support intact, intraday bias in EUR/JPY remains mildly on the upside for further rally. Current rise from 132.04 should target 61.8% projection of 114.84 to 134.39 from 132.04 at 144.12. Ideally, upside acceleration should be seen in the current move with daily MACD taking out down trend line. On the downside, below 133.91 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 132.04 key support holds.

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). Sustained break of 61.8% retracement of 149.76 to 109.03 at 134.20 will pave the way to key long term resistance zone at 141.04/149.76. However, break of 132.04 support will suggest medium term topping and will turn outlook bearish for deeper fall back 55 week EMA (now at 127.82).

Daily Pivots: (S1) 162.06; (P) 162.54; (R1) 163.18; More…

Intraday bias in EUR/JPY remains neutral for the moment. Corrective pattern from 163.70 could extend further. Break of 161.67 minor support should push the cross through channel support (now at 161.18) to 38.2% retracement of 153.15 to 163.70 at 159.66. Nevertheless, firm break of 163.70 will resume whole rally from 153.15 to retest 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 148.38 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. Next target would be 169.96 (2008 high).

EUR/JPY surged to as high as 124.29 last week but failed to break through 124.43 resistance and retreated. Initial bias is neutral this week first. Further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

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 120.80) 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 124.50) should confirm the start of another medium term rising leg.

Daily Pivots: (S1) 155.24; (P) 156.08; (R1) 156.78; More….

Intraday bias in EUR/JPY remains mildly on the downside at this point. Correction from 157.99 short term top should extend to 154.03 support or below. But overall outlook will stay bullish as long as 151.60 resistance turned support holds. Larger rally is still expected to resume through 157.99 after the correction completes. On the upside, above 157.18 minor resistance will bring retest of 157.99 high first.

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) 132.90; (P) 133.16; (R1) 133.31; More….

Intraday bias in EUR/JPY remains on the upside at this point. Current up trend should target 100% projection of 114.42 to 127.07 from 121.63 at 134.28. Sustained break there will pave the way to 137.49 key resistance next. On the downside, however, break of 132.51 support will indicate short term topping. Intraday bias will be turned back to the downside for 130.65 resistance turned support first.

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).

Daily Pivots: (S1) 121.21; (P) 121.71; (R1) 122.23; More…

EUR/JPY is staying in the consolidation from 124.08 and intraday bias remains neutral. Further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. As rise from 109.20 is still seen as a corrective pattern, we’d be cautious on topping around 126.09. Meanwhile, break of 120.90 will indicate short term topping and turn bias to the downside for 55 days EMA (now at 120.43) and below.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. There is prospect of another rise towards 126.09 key resistance level before completion. But even in that case, we’d expect strong resistance between 126.09 and 141.04 to limit upside, at least on first attempt. Sustained trading below 55 day EMA will pave the way to retest 109.20.

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