Daily Pivots: (S1) 135.34; (P) 136.07; (R1) 137.48; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. Corrective pattern from 139.99 could still extend lower. 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) 132.48; (P) 133.03; (R1) 133.38; More….

EUR/JPY’s strong break of 132.51 support suggests that rise from 121.63 has completed at 134.11, just ahead of 100% projection of 114.42 to 127.07 from 121.63 at 134.28. Intraday bias is back on the downside. Sustained break of 55 day EMA (now at 131.96) will pave the way to 38.2% retracement of 121.63 to 134.11 at 129.34. On the upside, above 132.87 minor 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) 156.87; (P) 157.30; (R1) 158.01; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Sustained trading below 55 D EMA (now at 156.57) will argue that fall from 159.75 is a larger scale correction. Deeper fall would be seen back towards 151.39 support. On the upside, break of 159.75 will resume larger up trend to 163.06 projection target.

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) 164.00; (P) 164.35; (R1) 164.75; More…

Intraday bias in EUR/JPY remains neutral as consolidation from 165.33 is extending. But outlook stays bullish as long as 162.59 support holds. On the upside, firm break of 165.33 will resume larger up trend towards 169.96 key resistance next. On the downside, though, break of 162.59 will turn bias to the downside for 160.20 support next.

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) 172.21; (P) 172.57; (R1) 173.00; More…

Intraday bias in EUR/JPY remains neutral at this point. Corrective fall from 175.41 could still extend lower. But downside should be contained by 170.87 and bring rebound. On the upside, above 173.42 will turn bias back to the upside for retesting 175.41. However, firm break of 170.87 will argue that larger correction is already underway and target 167.52 and possibly below.

In the bigger picture, as long as 170.87 resistance turned support holds, the long term up trend is still expected to continue. Next target is 100% projection of 139.05 to 164.29 from 153.15 at 178.38. However, firm break of 170.87 will bring deeper fall to 167.52 support. Decisive break there will confirm that larger correction in in progress for 153.15/164.29 support zone.

EUR/JPY’s strong rally and break of 130.45 resistance last week suggest that corrective fall from 134.11 is complete at 127.91 already. Initial bias stays on the upside this week for retesting 134.11 high first. 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 131.48 minor support will turn 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.

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) 126.20; (P) 126.36; (R1) 126.58; More….

Intraday bias in EUR/JPY remains mildly on the downside at this point. Consolidation from 127.48 is in its third leg. Deeper fall would be seen back to 125.07 support. We’d expect some strong support from there to contain downside to bring rebound. On the upside, decisive break of 127.48 high will resume larger rise from 114.42, to 128.67 fibonacci level.

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) 140.75; (P) 141.36; (R1) 142.17; More….

Intraday bias in EUR/JPY stays neutral as range trading continues. On the downside, break of 137.37 will resume the 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 138.81) 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) 118.07; (P) 119.00; (R1) 120.28; More….

Outlook in EUR/JPY is unchanged and intraday bias remains neutral. 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.

Daily Pivots: (S1) 152.22; (P) 152.95; (R1) 154.29; More….

EUR/JPY accelerates to as high as 154.63 so far today. There is no sign of topping after breaking 153.63 medium term projection level. Intraday bias stays on the upside for 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, below 153.08 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 114.42 (2020 low) is in progress. 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64 is already met but there in no sign of topping. Further rally should be seen to 100% projection at 162.82 next. For now, medium term outlook will remain bullish as long as 148.38 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 132.03; (P) 132.56; (R1) 132.91; More….

EUR/JPY’s consolidation from 133.12 extends with another sharp decline today. While deeper pull back could be seen, as long as 130.86 resistance turned support holds, further rally is expected. On the upside, above 133.12 will target 100% projection of 124.89 to 130.86 from 127.85 at 133.82 first. Break will target 137.49 high. However, firm break of 130.86 will dampen this bullish view and turn focus back to 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 157.30; (P) 157.84; (R1) 158.69; More….

Intraday bias in EUR/JPY is back on the downside with break of 156.85 support. Sustained trading below 55 D EMA (now at 156.54) will argue that fall from 159.75 is a larger scale correction. Deeper fall would be seen back towards 151.39 support. On the upside, break of 159.75 will resume larger up trend to 163.06 projection target.

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) 122.54; (P) 122.87; (R1) 123.20; More….

EUR/JPY is staying in consolidation from 122.08 temporary low. Intraday bias remains neutral first. Another recovery could be seen. 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.

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) 130.15; (P) 130.52; (R1) 131.10; More…

No change in EUR/JPY’s outlook and intraday bias stays neutral. On the downside, break of 129.36 will turn bias to the downside for 127.55 support first. Firm break there will indicate near term reversal and deeper fall would be seen back to 122.39/125.80 support zone. In any case, we’d expect more corrective trading with risk of another fall, as long as 131.69 holds. But firm break of 131.69 will extend the medium term rise to 134.20 fibonacci level next.

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) 120.49; (P) 120.75; (R1) 120.99; More….

EUR/JPY’s break of 120.41 minor support suggests that rebound from 119.24 has completed. Intraday bias is turned to the downside for another fall. But overall, near term outlook will remain bullish as long as 119.11 support holds. Larger rise from 115.86 is still in favor to resume through 121.46 at a later stage.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. In case of another rise, strong resistance should be seen from falling channel resistance (now at 125.14) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

Daily Pivots: (S1) 134.28; (P) 134.91; (R1) 136.04; More….

Despite dipping to as low as 133.03, EUR/JPY quickly recovered. Intraday bias is turned neutral first. With 132.04 support intact, outlook stays bullish and further rally is in favor. Break of 136.63 will resume medium term up trend. However, below 133.03 will turn focus to 132.04. Firm break there will indicate medium term reversal.

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). It should be targeting 141.04/149.76 resistance zone. On the downside, break of 132.04 support is needed to indicate medium term reversal. Otherwise, outlook will stay bullish in case of deep pull back.

EUR/JPY edged higher to 125.95 last week but gyrated down afterwards. Break of 124.36 suggests that rebound from 118.62 has completed just ahead of 55 day EMA . Initial bias is mildly on the downside this week for 123.78 support first. Break there will add more credence to this case and target a test on 118.62 low. On the upside, break of 125.95 resistance is needed to confirm resumption of the rebound. Otherwise, risk will now stay on the downside in case of recovery.

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.

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. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 (2012 low) to bring reversal.

Daily Pivots: (S1) 128.43; (P) 128.77; (R1) 129.06; More…

Intraday bias in EUR/JPY stays neutral first. As noted decline from 131.39 is seen as correcting whole rise from 141.84. Deeper fall is expected as long as 130.38 resistance holds. Below 127.55 will target 38.2% retracement of 114.84 to 131.39 at 125.05. Nonetheless, break of 130.38 will argue that the pull back is completed and turn focus back to 131.39 high.

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) 141.37; (P) 142.04; (R1) 142.49; More….

EUR/JPY’s break of 141.12 minor support suggests that rebound from 138.79 has completed much early than expected at 142.92, capped below 55 day EMA (now at 143.31). Intraday bias is back on the downside for retesting 138.79 low first. On the upside, sustained trading above 55 day EMA will bring stronger rise back to 146.71/148.38 resistance zone instead.

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 before completing the correction from 148.38.

EUR/JPY’s rally continued last week and reached as high as 126.75. As a temporary top was formed there, initial bias is neutral this week first. Outlook will remain bullish as long as 124.31 support holds. Break of 126.75 will target 100% projection of 114.42 to 124.43 from 119.31 at 129.32. Nevertheless, break of 124.31 will indicate short term topping and turn bias to the downside for pull back.

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 55 day EMA (now at 122.54) 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 124.54) should confirm the start of another medium term rising leg.