Daily Pivots: (S1) 135.57; (P) 136.18; (R1) 136.81; More….

EUR/JPY is staying in the corrective pattern from 139.99 and intraday bias remains neutral first. On the downside, break of 132.63 will resume the fall and target 61.8% retracement of 124.37 to 139.99 at 130.33. On the upside, break of 138.33 will indicate that the correction has completed, and bring retest of 139.99 high next.

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) 140.09; (P) 140.92; (R1) 142.27; More….

EUR/JPY’s rally accelerates today and break of 142.31 suggests that larger up trend is ready to resume. Intraday bias stays on the upside for 144.26 high first. Decisive break there will confirm this bullish case and target 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67. On the downside, below 140.63 minor support will delay the bullish case and 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.

Daily Pivots: (S1) 117.70; (P) 117.99; (R1) 118.15; More….

.With 117.28 minor support intact, EUR/JPY’s rebound from 115.86 short term bottom could extend higher. 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 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 131.84; (P) 132.18; (R1) 132.37; More….

As long as 130.97 support holds, outlook in EUR/JPY remains bullish. Current up trend from 114.42 should target 100% projection of 114.42 to 127.07 from 121.63 at 134.28 next.

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) 128.23; (P) 128.71; (R1) 129.18; More….

A temporary low is formed at 128.23 and intraday bias in EUR/JPY is turned neutral first. Outlook is unchanged that consolidation pattern from 134.11 is extending with another falling leg. Further decline is expected as long as 129.76 resistance holds. Below 128.23 will target 127.36, and possibly further to 126.58 fibonacci level. On the upside, above 129.76 minor resistance will turn bias back to the upside to 131.59 resistance instead.

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 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) 127.04; (P) 127.26; (R1) 127.61; More….

EUR/JPY’s break of 127.22 resistance suggests up trend resumption. Intraday bias is back on the upside. The current rise from 114.42 should target 128.67 medium term fibonacci level. For now, outlook will remains bullish as long as 125.92 support holds, even 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 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) 140.06; (P) 141.04; (R1) 142.94; More….

Intraday bias in EUR/JPY is turned neutral first as it recovered notably after dipping to 139.11. Risk stays on the downside as long as 4 hour 55 EMA (now at 143.01) holds. Fall from 145.55 is seen as the third leg of the whole correction from 148.38 high. Below 139.11 will target 137.37 low, and then 135.40 fibonacci level.

In the bigger picture, as long as 55 week EMA (now at 139.54) 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) 143.00; (P) 143.63; (R1) 144.57; More….

Intraday bias in EUR/JPY is back on the downside with break of 141.93 minor support. 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) 126.21; (P) 126.51; (R1) 126.76; More….

Intraday bias in EUR/JPY remains neutral first. On the upside, decisive break of 127.48 will resume larger rise from 114.42, to 128.67 fibonacci level. On the downside, break of 126.26 minor support will delay the bullish case. Intraday bias will be turned back to the downside for 125.07 to extend the consolidation from 127.48 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 121.63 support holds. Next target is 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) 146.55; (P) 147.16; (R1) 147.60; More….

Intraday bias in EUR/JPY stays neutral as consolidation from 148.38 is extending. In case of another fall, downside should be contained 140.88/144.06 support zone to bring another rally. Break of 148.38 will resume larger up trend to 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.76 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

Daily Pivots: (S1) 142.93; (P) 143.75; (R1) 144.34; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. Further decline could be seen as long as 146.12 resistance holds. Break of 140.75 will resume the fall from 148.38. However, break of 146.12 resistance will indicate that correction from 148.38 has completed. Bias will be back on the upside for retesting 148.38.

In the bigger picture, considering bearish divergence condition in weekly MACD, 148.38 could be a medium term top already. Fall from there is probably correcting whole up trend from 114.42 (2020 low). Deeper decline would be seen to 55 week EMA (now at 137.37), or further to 38.2% retracement of 114.42 to 148.38 at 135.40 before completion.

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) 122.58; (P) 122.89; (R1) 123.41; More….

Intraday bias in EUR/JPY is turned neutral again with today’s recovery. But as long as 124.31 resistance holds, further decline is expected. Sustained break of 38.2% retracement of 114.42 to 127.07 at 122.23 will extend the fall from 127.07 to 61.8% retracement at 119.25, which is close to 119.31 key support.

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.

EUR/JPY edged lower to 125.07 last week but recovered, after failing to sustain below 38.2% retracement of 121.63 to 127.48 at 125.24. Intraday bias remains mildly on the upside this week for retesting 127.48 high. On the downside, however, break of 125.07 will resume the corrective fall. Intraday bias will be turned back to the downside for 61.8% retracement at 123.86 next.

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. Next target is 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.

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

Daily Pivots: (S1) 129.91; (P) 130.23; (R1) 130.65; More….

Focus is now on 130.65 resistance in EUR/JPY. Firm break there will resume larger up trend from 114.42. On the downside, break of 129.63 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.

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) 141.15; (P) 141.49; (R1) 142.07; More….

Intraday bias in EUR/JPY remains neutral at this point. On the upside, decisive break of 142.84 resistance will argue that the correction from 148.38 has completed. Stronger rally should then be seen back to 146.71 resistance. On the downside, however, break of 137.37 will resume the whole decline from 148.38 to 135.40 fibonacci level next.

In the bigger picture, as long as 55 week EMA (now at 138.81) 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) 137.70; (P) 139.70; (R1) 141.15; More….

Intraday bias in EUR/JPY is back on the downside with break of 138.00. Further break of 137.37 will resume whole decline from 148.48. Next target is 135.40 fibonacci level. In any case, outlook will stay mildly bearish as long as 142.84 resistance holds.

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) 125.68; (P) 126.14; (R1) 126.50; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 126.74 temporary low. 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) 121.84; (P) 122.47; (R1) 122.97; More…

Intraday bias in EUR/JPY remains neutral as consolidation from 124.08 continues. Overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, 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 119.98).

In the bigger picture, price actions from 109.20 medium term bottom are seen as correcting whole down trend from 149.76 to 109.20. 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.

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Daily Pivots: (S1) 138.20; (P) 138.82; (R1) 139.71; More….

EUR/JPY recovered ahead ahead of 137.37 support and intraday bias is turned neutral. On the downside, firm break of 137.37 will resume whole decline from 148.38 to 135.40 fibonacci level next. However, firm break of 142.84 will argue that the correction from 148.38 has completed, and bring stronger rise back to 146.71 resistance.

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.