Daily Pivots: (S1) 124.61; (P) 124.95; (R1) 125.47; More….

EUR/JPY rebounds further today but stays in range of 124.17/125.95. Intraday bias remains neutral 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 out 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.

Daily Pivots: (S1) 123.06; (P) 124.22; (R1) 124.82; More…

The sharp fall from 125.80 suggests short term topping in EUR/JPY, ahead of 126.09 key resistance, on bearish divergence condition in 4 hour MACD. Deeper pull back is now mildly in favor back to 38.2% retracement of 114.84 to 125.80 at 121.61 and possibly below. But overall, we’re still staying mildly bullish in the cross and expect another rise. Break of 126.09 will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89.

In the bigger picture, focus is back on 126.09 support turned resistance. Decisive break there will confirm completion of the down trend from 149.76. And in such case, rise from 109.20 is at the same degree and should target 141.04 resistance and above. Meanwhile, rejection from 126.09 and break of 114.84 will extend the fall from 149.76 through 109.20 low.

Daily Pivots: (S1) 130.31; (P) 131.09; (R1) 131.55; More….

Intraday bias in EUR/JPY remains on the downside for 130.02 support. Break there will resume the whole correction from 121.63 towards 38.2% retracement of 121.63 to 134.11 at 129.34. Strong support should be seen there to bring rebound. On the upside, above 131.26 support turned resistance will turn intraday bias neutral first.

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) 157.94; (P) 158.30; (R1) 158.59; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. On the upside, firm break of 158.51 resistance will argue that larger up trend is ready to resume through 159.75, to 163.06 projection target. On the downside, sustained trading below 55 D EMA (now at 156.63) will argue that fall from 159.75 is a larger scale correction. Deeper fall would be seen back towards 151.39 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 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 142.89; (P) 143.46; (R1) 143.91; More….

EUR/JPY dips notably as correction from 145.62 extends. Intraday bias stays neutral at this point. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 at 153.27.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

Daily Pivots: (S1) 144.14; (P) 144.59; (R1) 144.88; More….

Intraday bias in EUR/JPY remains neutral for the moment. Further rally is expected as long as 142.13 support holds. Corrective fall from 148.38 has completed at 137.37 already. Break of 145.55 will resume the rise from 137.37 to 146.71 resistance and then 148.38 high.

In the bigger picture, as long as 55 week EMA (now at 139.42) 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) 127.99; (P) 128.22; (R1) 128.44; More….

EUR/JPY is still bounded in range of 127.36/129.09 and intraday bias remains neutral first. On the downside, break of 127.36 will resume larger pattern from 134.11 to 126.58 medium term fibonacci level. We’d look for some support from there to bring rebound. But sustained break of 126.58 will carry larger bearish implications. On the upside, break of 129.09 will bring stronger rebound to 55 day EMA (now at 129.66) and above.

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) 143.61; (P) 144.40; (R1) 145.14; More….

Intraday bias in EUR/JPY is back on the downside with break of 144.32 minor support. Corrective pattern from 148.38 is extending with another falling leg. Deeper decline would be seen to 142.54 support next. For now, risk will stay on the downside as long as 146.12 resistance holds, in case of recovery.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through 148.38 to 149.76 (2014 high). However, break of 137.32 support argue that a medium term correction has already started to correct the whole up trend from 114.42.

Daily Pivots: (S1) 123.52; (P) 124.22; (R1) 124.65; More….

No change in EUR/JPY’s outlook and intraday bias remains neutral for the moment. On the upside, break of 125.09 resistance will extend the rebound from 118.62 to 55 day EMA (now at 126.45) and above. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low instead.

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 possibly just the second leg of the corrective pattern from 109.03. Break of 133.12 resistance should start the third leg to 137.49 and above. Nevertheless, break of 118.62 will resume the down trend from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 167.88; (P) 169.01; (R1) 169.74; More…

EUR/JPY is still bounded in sideway trading and intraday bias remains neutral. On the downside, break of 168.01 support will strengthen the case that rise from 164.31 has completed at 170.78 already. Intraday bias will be back on the downside for 167.31 support, and then 164.01. Nevertheless, break of 170.87 will resume the rally to retest 171.58 high instead.

In the bigger picture, a medium top was formed at 171.58 after brief breach of 169.96 (2008 high). But as long as 55 W EMA (now at 159.51) holds, price actions from there is seen as correcting the rise from 153.15 only. That is, larger up trend remains in favor to continue. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 153.15 support.

Daily Pivots: (S1) 130.22; (P) 130.60; (R1) 131.22; More…

Intraday bias in EUR/JPY remains on the upside for 131.39 high. Correction from 131.39 has completed at 127.55 already, after hitting 55 day EMA. Firm break of 131.39 will resume larger rally and target 61.8% projection of 122.39 to 131.39 from 127.55 at 133.11 next. On the downside, below 129.10 minor support will dampen this bullish view and turn focus back to 127.55 support instead.

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. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.

Daily Pivots: (S1) 126.50; (P) 126.69; (R1) 126.83; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 127.48 is extending. Outlook will stay bullish as long as 126.03 support holds. Break of 127.48 will resume larger rise from 114.42. Next target is 128.67 medium term fibonacci level. However, firm break of 126.03 will suggest short term topping. Intraday bias will be turned back to the downside for deeper pull back, towards 125.13 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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 119.22; (P) 119.51; (R1) 119.78; More….

No change in EUR/JPY’s outlook as we’re still viewing price actions from 121.46 as consolidation. 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. However, firm break of 119.11 will argue that rise from 115.86 has completed. Intraday bias will be turned to the downside for 117.07 support.

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 125.38). 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.

Daily Pivots: (S1) 121.64; (P) 121.89; (R1) 122.24; More….

Outlook in EUR/JPY is unchanged and intraday bias remains neutral first. We’re favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

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) 120.76; (P) 121.12; (R1) 121.44; More….

A temporary top should be in place at 121.46 with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first and some consolidations could be seen. Downside should be contained above 119.11 support to bring another rally. On the upside, above 121.46 will resume the rise from 115.86 to 161.8% projection of 115.86 to 120.01 from 117.07 at 123.78 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 126.00). 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) 126.10; (P) 126.42; (R1) 126.61; More….

EUR/JPY is staying in consolidation in range of 126.03/127.48 and intraday bias remains neutral first. Further rise is in favor as long as 126.03 support holds. On the upside, break of 127.48 will resume larger rise from 114.42 to 128.67 medium term fibonacci level. On the downside, firm break of 126.03 will suggest short term topping. Intraday bias will be turned back to the downside for deeper pull back, towards 125.13 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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 157.73; (P) 158.18; (R1) 158.89; More….

Intraday bias in EUR/JPY remains neutral at this point. Outlook is also unchanged that correction from 159.75 should have 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) 122.75; (P) 123.24; (R1) 123.81; More….

Intraday bias in EUR/JPY remains neutral as consolidation form 122.08 temporary low might extend. But upside 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. Nevertheless, firm break of 124.09 will at least bring stronger rebound back to 125.23 resistance and above.

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) 117.38; (P) 117.74; (R1) 118.26; More….

EUR/JPY’s break of 118.47 resistance suggests that pull back from 120.01 has completed at 117.07. And rebound from 115.86 is possibly still in progress. Intraday bias is turned back to the upside for 120.01 resistance first. Break will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. On the downside, though, break of 117.07 will target retest on 115.86 low.

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) 120.03; (P) 120.22; (R1) 120.40; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 119.77 temporary low. Upside of recovery should be limited by 121.26 resistance to bring fall resumption. As noted before, corrective rise from 115.86 should be completed at 122.87, on bearish divergence condition in daily MACD. On the downside, break of 122.87 will pave the way to retest 115.86 low.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Thus, outlook remains bearish. Rise from 115.86 is seen as a corrective rise, which might have completed. Firm break of 115.86 will resume the down trend to 114.84 support next.