Daily Pivots: (S1) 135.01; (P) 135.64; (R1) 136.26; More….

Intraday bias in EUR/JPY remains neutral and more consolidation would be seen in range of 133.03/136.63. But after all, outlook stays bullish with 133.03 support intact. Break of 136.63 will resume medium term up trend. However, on the downside, break of 133.03 will have 55 day EMA and medium term channel support firmly taken out. Also, considering bearish divergence condition in daily MACD too, that will suggest medium term reversal. Deeper fall should then be seen to 132.04 support for confirmation.

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.

Daily Pivots: (S1) 117.48; (P) 118.48; (R1) 120.16; More….

Intraday bias in EUR/JPY remains neutral first. On the downside, decisive break of 115.86 low will confirm resumption of larger down trend from 137.49. Nevertheless, break of 121.39 resistance will turn bias back to the upside for 122.87 resistance.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). It was also rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 109.48 (2016 low) next.

EUR/JPY’s sharp decline and break of 118.23 resistance confirmed resumption of whole fall from 124.08. More importantly, the development argues that whole medium term rebound from 109.20 is completed at 124.08 already. Deep fall is now expected ahead.

Further fall is expected this week as long as 118.78 minor resistance holds. EUR/JPY should now target 61.8% retracement of 109.20 to 124.08 at 114.88 next. On the upside, above 118.78 will indicate short term bottoming and bring rebound back to 119.31/120.43 resistance zone. That also coincides with 55 day EMA (now at 120.19). In that case, we’re look at the reactions in this resistance zone to assess the outlook again.

In the bigger picture, the firm break of 38.2% retracement of 109.20 to 124.08 at 118.39 indicates that medium term rise from 109.20 is completed at 124.08. That’s well below 126.09 key support turned resistance. Also, EUR/JPY failed to sustain above 55 week EMA. Deeper decline would now be seen back to 109.20 low. Overall, the down trend from 149.76 (2014 high) is not completed yet. Break of 109.20 will resume such down trend towards 94.11 low. In any case, break of 126.09 is needed needed to confirm medium term reversal.

In the long term picture, medium term decline from 149.76 is seen as part of a long term sideway pattern from 88.96. Decisive break of 126.09 will indicate that such decline is completed and EUR/JPY has started another medium term rally already. Before that, deeper fall is mildly in favor towards 94.11 low. Overall, long term range trading will continue.

Daily Pivots: (S1) 155.09; (P) 155.54; (R1) 155.93; More….

Intraday bias in EUR/JPY is mildly on the downside as fall from 158.03 is trying to extend lower. But downside should be contained by 153.32 support to complete the corrective pattern from 157.99. On the upside, decisive break of 157.99/158.03 will confirm resumption of larger up trend, and target 162.82 projection level next.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

EUR/JPY surged to as high as 133.08 last week as medium term rise resumed. Initial bias stays on the upside this week for 134.20 fibonacci level. Sustained break there will target 141.04 resistance next. On the downside, break of 130.60 support is needed to indicate short term topping. Otherwise outlook will remain bullish in case of retreat.

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. ON the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

In the long term picture, at this point, there is no clear indication that rise from 109.03 is resuming that from 94.11. Hence, we’d be cautious on topping below 149.76 to extend range trading. Nonetheless, firm break of 149.76 will indicates strong underlying buying. In such case, EUR/JPY will target 100% projection of 94.11 to 149.76 from 109.03 at 164.68.

Daily Pivots: (S1) 119.79; (P) 120.08; (R1) 120.48; More…

EUR/JPY is staying in range above 119.31 temporary low and intraday bias remains neutral first. Below 119.31 will extend fall from 122.88 to 118.23 low. But we’d expect strong support from 118.45 key cluster support level (38.2% retracement of 109.20 to 124.08 at 118.39) to contain downside and bring rebound. On the upside, above 120.81 minor resistance will turn bias back to the upside for 124.08 high. Overall, price actions from 124.08 are developing into a consolidative pattern and upside breakout is expected later.

In the bigger picture, we’re holding on to the view that medium term rise from 109.20 is still in progress. Focus is on 126.09 key resistance level. Sustained break will confirm completion of the whole decline from 149.76. And rise from 109.20 is of the same degree as the fall from 149.76. In such case, further rally would be seen to 104.04 resistance and possibly above before topping. Meanwhile, rejection from 126.09, or firm break of 118.45 cluster support, will likely extend the fall from 149.76 through 109.20 low.

EUR/JPY stayed in the consolidation pattern from 128.58 last week and outlook is unchanged. Initial bias remains neutral this week for some more sideway trading. Downside breakout is expected as long as 131.07 resistance holds. On the downside, break of 128.85 support will resume the fall from 134.11 to 127.07 resistance turned support next. On the upside, break of 131.07 resistance will argue that choppy fall from 134.11 has completed. Intraday bias will be turned back to the upside for 132.68 resistance first.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. As long as 127.07 resistance turned support holds, further rise is still expected to retest 137.49 (2018 high). However, firm break of 127.07 will argue that the medium term trend has reversed, and open up the case for retesting 114.42.

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.

EUR/JPY rebounded after initial dip to 162.59 but failed to break through 165.33 resistance. Initial bias remains neutral this week first and more range trading could be seen. 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.

In the long term picture, rise from 114.42 (2020 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). Next target is 100% projection of 94.11 to 149.76 from 114.42 at 170.07 which is close to 169.96 (2008 high). This will remain the favored case as long as 153.15 support holds.

Daily Pivots: (S1) 117.23; (P) 117.70; (R1) 118.08; More…

As long as 118.78 resistance holds, deeper decline is expected in EUR/JPY. As noted before, whole medium term rebound from 109.20 is completed at 124.08 already. Next target will be 61.8% retracement of 109.20 to 124.08 at 114.88. On the upside, above 118.78 will indicate short term bottoming and bring rebound back to 119.31/120.43 resistance zone. That also coincides with 55 day EMA (now at 120.19). In that case, we’ll look at the reactions in this resistance zone to assess the outlook again.

In the bigger picture, the firm break of 38.2% retracement of 109.20 to 124.08 at 118.39 indicates that medium term rise from 109.20 is completed at 124.08. That’s well below 126.09 key support turned resistance. Also, EUR/JPY failed to sustain above 55 week EMA. Deeper decline would now be seen back to 109.20 low. Overall, the down trend from 149.76 (2014 high) is not completed yet. Break of 109.20 will resume such down trend towards 94.11 low. In any case, break of 126.09 is needed needed to confirm medium term reversal.

Daily Pivots: (S1) 143.90; (P) 144.32; (R1) 145.17; More….

EUR/JPY’s rebound from 140.75 resumed after brief retreat and intraday bias is back on the upside. Outlook is unchanged that correction from 148.38 could have completed at 140.75. Break of 146.12 resistance will target a retest on 148.38 high. For now, further rise will remain in favor as long as 143.48 support holds, in case of retreat.

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 138.08), or further to 38.2% retracement of 114.42 to 148.38 at 135.40 before completion.

Daily Pivots: (S1) 119.81; (P) 120.10; (R1) 120.30; More….

Intraday bias in EUR/JPY remains on the downside for the moment. The corrective rise from 115.86 should be completed at 122.87, on bearish divergence condition in daily MACD. Further fall should be seen to retest 115.86 low. On the upside, above 121.26 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 122.87 resistance holds, in case of recovery.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 132.82; (P) 133.08; (R1) 133.35; More….

EUR/JPY is still bounded in range of 131.16/134.48 and intraday bias remains neutral. Further rise is expected as long as 131.16 support holds. Decisive break of 134.48 will resume medium term rise from 114.84 and target 141.04 resistance next. However, sustained break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

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). Sustained break of 61.8% retracement of 149.76 to 109.03 at 134.20 will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 130.92; (P) 131.17; (R1) 131.45; More….

EUR/JPY’s correction from 133.44 is extending lower. But downside should be contained above 130.45 resistance turned support to bring rebound. On the upside, above 132.55 minor resistance will bring retest of 133.44 first. Firm break there will resume larger up trend from 114.42. However, firm break of 130.45 will dampen our bullish view and bring deeper fall back to 127.91 key support.

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.

Daily Pivots: (S1) 131.59; (P) 132.06; (R1) 132.54; More….

Intraday bias in EUR/JPY is mildly on the downside as corrective pull back from 133.44 is extending. Downside should be contained above 130.45 resistance turned support to bring another rally. On the upside, break of 133.44 will target 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.

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.

Daily Pivots: (S1) 128.33; (P) 128.61; (R1) 129.10; More….

Intraday bias in EUR/JPY remains neutral at the moment. As long as 130.14 resistance holds, deeper decline is in favor in the cross. Below 127.49 will target 126.63 support first. Break there will resume whole fall from 133.12 and target 124.08/89 support zone. On the upside, however, break of 130.14 will resume the rebound from 126.63 towards 133.12 resistance.

In the bigger picture, as long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

Daily Pivots: (S1) 163.32; (P) 163.87; (R1) 164.30; More…

Intraday bias in EUR/JPY remains neutral for the moment. Strong support is still expected from 55 4H EMA (now at 163.58) to bring rebound. On the upside, break of 165.33 will resume larger up trend to 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71. However, sustained break of 55 4H EMA will turn bias to the downside for deeper fall to 160.20 support instead.

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) 131.37; (P) 131.62; (R1) 132.02; More….

No change in EUR/JPY’s outlook. Correction from 134.48 is in progress and deeper fall is mildly in favor. Break of 131.16 will target 38.2% retracement of 114.84 to 134.48 at 126.97, which is close to 127.55 support. We’ll look for support from there to bring rebound on first attempt. In any case, firm break of 134.48 is needed to confirm up trend resumption. Otherwise, near term risks remain on the downside.

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). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will argue that the medium term trend has reversed and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 174.50; (P) 174.83; (R1) 175.45; More…

EUR/JPY’s rally continues today and intraday bias remains on the upside. Current up trend should target 138.2% projection of 164.01 to 170.87 from 167.52 at 177.00. For now, outlook will remain bullish as long as 173.50 support holds, in case of retreat.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 139.05 to 164.29 from 153.15 at 178.38. For now outlook will stay bullish as long as 170.7 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 123.47; (P) 123.71; (R1) 124.12; More…

Intraday bias in EUR/JPY remains neutral for the moment as it’s limited below 124.53. On the upside, break of 124.53 will extend rise from 114.84 and 109.03 to target 126.09 key resistance next. Break there will pave the way to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. Nonetheless, considering bearish divergence condition in 4 hour MACD, a short term top could be in place. Break of 122.92 minor support will bring deeper pull back towards 38.2% retracement of 114.84 to 124.53 at 120.82.

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) 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.