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) 124.22; (P) 124.64; (R1) 124.95; More….

No change in EUR/JPY’s outlook. Intraday bias stays neutral with focus on 124.36 minor support. Firm break there will argue that the rebound from 118.62 has completed and turn bias to the downside for retesting 118.62 low. On the upside, in case of another rise, we’d stay cautious on strong resistance from 55 day EMA (now at 15.96) to limit upside.

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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 124.68; (P) 125.08; (R1) 125.34; More….

Intraday bias in EUR/JPY remains neutral with focus on 124.36 minor support. Firm break there will argue that the rebound from 118.62 has completed and turn bias to the downside for retesting 118.62 low. On the upside, in case of another rise, we’d stay cautious on strong resistance from 55 day EMA (now at 126.07) to limit upside.

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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 125.17; (P) 125.52; (R1) 125.77; More….

Intraday bias in EUR/JPY remains neutral first. At this point, another rally cannot be ruled out yet. But we’d stay cautious on strong resistance from 55 day EMA (now at 126.11) to limit upside. On the downside, break of 124.36 support will argue that the rebound from 118.62 has completed and turn bias to the downside. Nevertheless, sustained trading above 55 day EMA will pave the way back to 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 137.39 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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 125.39; (P) 125.67; (R1) 125.98; More….

EUR/JPY lost momentum against after hitting 125.95 and intraday bias si turned neutral first. In case of another rally, we’d stay cautious on strong resistance from 55 day EMA (now at 126.11) to limit upside. On the downside, break of 124.36 support will argue that the rebound has completed and turn bias to the downside. Nevertheless, sustained trading above 55 day EMA will pave the way back to 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 137.39 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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 124.62; (P) 125.18; (R1) 126.00; More….

Intraday bias in EUR/JPY remains on the upside for 55 days EMA (now at 126.14). We’d be cautious on strong resistance from there to limit upside. And, break of 124.36 support will argue that the rebound has completed and turn bias to the downside. Nevertheless, sustained trading above 55 day EMA will pave the way back to 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 137.39 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 decline from 137.49 for 109.03/114.84 support zone instead.

EUR/JPY’s rebound from 118.62 extended last week even though upside momentum has been unconvincing. Further rise is expected this week for 55 days EMA (now at 126.15). We’d be cautious on strong resistance from there to limit upside. And, break of 124.36 support will argue that the rebound has completed and turn bias to the downside. Nevertheless, sustained trading above 55 day EMA will pave the way back to 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 137.39 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 decline from 137.49 for 109.03/114.84 support zone instead.

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) 124.30; (P) 124.80; (R1) 125.12; More….

Intraday bias in EUR/JPY is turned neutral with the current retreat. At this point, further rise is still expected with 123.78 support intact. Break of 125.46 will target 55 day EMA (now at 126.20). Though, break of 123.78 will indicate completion of the rebound and turn bias back to the downside.

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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 124.88; (P) 125.18; (R1) 125.47; More….

Upside momentum in EUR/JPY is rather unconvincing as seen in 4 hour MACD. But further rise is still expected with 123.78 support intact. Rebound from 118.62 is in progress for 55 day EMA (now at 126.20). Though, break of 123.78 will indicate completion of the rebound and turn bias back to the downside.

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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 124.73; (P) 124.99; (R1) 125.30; More….

No change in EUR/JPY’s outlook. With 123.78 minor support intact, further rise is expected. Rebound from 118.62 is in progress for 55 day EMA (now at 126.23). Though, break of 123.78 will indicate completion of the rebound and turn bias back to the downside.

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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 124.66; (P) 124.86; (R1) 125.12; More….

Intraday bias in EUR/JPY remains mildly on the upside for the moment. Rebounds from 118.62 is in progress for 55 day EMA (now at 126.2). On the downside, break of 123.78 support is now needed to indicate completion of rebound from 118.62. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

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 decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 124.04; (P) 124.68; (R1) 125.58; More….

Intraday bias in EUR/JPY remains on the upside at this point. Rebounds should 118.62 should have just resumed for 55 day EMA (now at 126.38). On the downside, break of 123.78 support is now needed to indicate completion of rebound form 118.62. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

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 decline from 137.49 for 109.03/114.84 support zone instead.

EUR/JPY edged higher to 125.32 last week and break of 125.09 resistance suggests resumption of rebound from 118.62. Initial bias is now on the upside this week for 55 day EMA (now at 126.43). On the downside, break of 123.78 support is now needed to indicate completion of rebound form 118.62. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

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 decline from 137.49 for 109.03/114.84 support zone instead.

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) 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) 124.30; (P) 124.63; (R1) 125.06; More….

Intraday bias in EUR/JPY remains neutral at this point. 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) 123.94; (P) 124.33; (R1) 124.64; More….

EUR/JPY is staying in consolidation below 125.09 and intraday bias remains neutral first. On the upside, break of 125.09 resistance will extend the rebound from 118.62 to 55 day EMA (now at 126.51) 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) 124.48; (P) 124.65; (R1) 124.84; More….

Intraday bias in EUR/JPY remains neutral at this point. On the upside, break of 125.09 resistance will extend the rebound from 118.62 to 55 day EMA (now at 126.59) 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) 124.28; (P) 124.63; (R1) 125.03; More….

Intraday bias in EUR/JPY remains neutral first, with focus on 125.09. Current development suggest that rebound from 118.62 is stronger than originally expected. . On the upside, break of 125.09 will bring further rise to 55 day EMA (now at 126.75) 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.

EUR/JPY stayed in tight range below 125.09 last week and initial bias stays neutral this week first. But based on overall development in yen crosses, EUR/JPY’s rebound from 118.62 will likely turn out to be stronger than expected. On the upside, break of 125.09 will bring further rise to 55 day EMA (now at 126.75) 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.

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) 123.89; (P) 124.28; (R1) 124.83; More….

EUR/JPY is staying in range below 125.09 temporary top. But based on overall development in yen crosses, EUR/JPY’s rebound from 118.62 will likely turn out to be stronger than expected. On the upside, break of 125.09 will bring further rise to 55 day EMA (now at 126.76) and above. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low first.

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 for 137.49 for 109.03/114.84 support zone instead.