Daily Pivots: (S1) 120.11; (P) 120.49; (R1) 120.77; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 121.46 is extending. Deeper fall cannot be ruled out. But 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 125.38). 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.

EUR/JPY stayed in consolidation from 121.46 last week and outlook is unchanged. Initial bias remains neutral this week first. Deeper fall cannot be ruled out. But 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 125.38). 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.

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 125.93), this is the preferred case.

Daily Pivots: (S1) 120.22; (P) 120.67; (R1) 121.19; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 121.46. Deeper retreat could be seen, but 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) 120.42; (P) 120.67; (R1) 120.86; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. Deeper retreat could be seen, but 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) 120.63; (P) 120.96; (R1) 121.23; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 121.46 is extending. Deeper retreat could be seen, but 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) 120.70; (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) 120.47; (P) 120.70; (R1) 121.05; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 121.46 might extend. 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.

EUR/JPY failed to break through 121.46 resistance last week and extended consolidation from there with another decline. Initial bias remains neutral first. Deeper retreat cannot be ruled out but 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.

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 125.93), this is the preferred case.

Daily Pivots: (S1) 120.02; (P) 120.74; (R1) 121.20; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. In case of deeper fall, downside should be contained above 191.11 support to bring another rally. On the upside, break of 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 125.82). 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) 121.03; (P) 121.21; (R1) 121.55; More….

EUR/JPY failed to take out 121.46 despite rally attempt. Intraday bias remains neutral and more consolidations could be seen. In case of deeper fall, downside should be contained above 191.11 support to bring another rally. On the upside, break of 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 125.82). 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) 120.69; (P) 120.87; (R1) 121.17; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. Another pull back cannot be ruled out. But downside should be contained above 191.11 support to bring another rally. On the upside, break of 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 125.82). 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) 120.58; (P) 120.79; (R1) 121.15; More….

EUR/JPY recovered after drawing support from 4 hour 55 EMA, but stays below 121.46 temporary top. Intraday bias remains neutral and some more consolidation could be seen. In case of another retreat, downside should be contained above 191.11 support to bring another rally. On the upside, break of 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 125.82). 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) 120.25; (P) 120.52; (R1) 120.69; More….

Intraday bias in EUR/JPY remains neutral at this point as consolidation from 121.46 is extending. Downside of retreat should be contained above 191.11 support to bring another rally. On the upside, break of 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 125.82). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.

EUR/JPY edged higher to 121.46 last week but retreated since then. Initial bias is neutral this week for some consolidations first. Downside of retreat should be contained above 191.11 support to bring another rally. On the upside, break of 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 125.82). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.

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 126.12), this is the preferred case.

Daily Pivots: (S1) 120.25; (P) 120.82; (R1) 121.21; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. Deeper retreat cannot be ruled out. But 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) 120.56; (P) 120.81; (R1) 121.22; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 121.46 is extending. Deeper retreat cannot be ruled out. But 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) 120.42; (P) 120.86; (R1) 121.13; More….

EUR/JPY is staying in consolidation from 121.46 and intraday bias remains neutral first. Downside of retreat 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) 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) 120.80; (P) 120.97; (R1) 121.26; More….

Intraday bias in EUR/JPY remains on the upside at this point. Current rise from 115.86 should target 161.8% projection of 115.86 to 120.01 from 117.07 at 123.78 next. On the downside, below 120.67 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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.

EUR/JPY’s rebound from 115.86 resumed last week and reached as high as 121.35. Initial bias stays on the upside this week with focus on 100% projection of 115.86 to 120.01 from 117.07 at 121.16. Sustained break there will pave the way to 161.8% projection at 123.78. On the downside, below 120.33 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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.

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, this is the preferred case.