Daily Pivots: (S1) 130.20; (P) 130.56; (R1) 131.13; More….

No change in EUR/JPY’s outlook as it’s staying in range of 1.2894/132.40. Intraday bias remains neutral for the moment. With 132.40 resistance intact, near term outlook remains bearish and further decline is expected. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.

Daily Pivots: (S1) 134.63; (P) 136.08; (R1) 136.82; More….

EUR/JPY’s pull back from 139.99 is still in progress and deeper fall could be seen to 38.2% retracement of 124.37 to 139.99 at 134.02. Downside should be contained there to bring rebound. On the upside, above 137.52 minor resistance will bring retest of 139.99 resistance first. However, firm break of 134.02 will bring deeper decline to 61.8% retracement at 130.33.

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.

EUR/JPY’s steep decline and strong break of 126.63 support last week indicates resumption of fall from 133.12. Intraday bias remains on the downside for the moment. Current fall should target 124.08/89 support zone next. On the upside, break of 127.68 minor resistance is needed to be the first sign of short term bottoming. otherwise, outlook will remain bearish even in case of recovery.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. 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.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 135.28; (P) 136.29; (R1) 137.27; More….

A temporary top is in place at 137.50, after breaching 137.49 long term resistance. Intraday bias is turned neutral first. Further rally is expected as long as 133.70 minor support holds. Sustained break of 137.49 will resume larger up trend for 144.06 projection level next. However, firm break of 133.70 will indicate short term topping, and turn bias back to the downside for deeper pull back.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Sustained break of 137.49 (2018 high) will resume larger 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) 134.33; (P) 134.89; (R1) 135.86; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. Corrective fall from 139.99 could still extend lower. Below 132.63 will target 61.8% retracement of 124.37 to 139.99 at 130.33. Nevertheless, 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) 138.93; (P) 139.47; (R1) 140.00; More….

EUR/JPY’s rise from 133.38 is still in progress. Intraday bias stays on the upside for 100% projection of 133.38 to 138.38 from 135.50 at 140.50. Decisive break there will indicate upside acceleration, and raise the chance of up trend resumption through 144.26 high. On the downside, below 138.24 minor support will turn intraday bias neutral again.

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) 143.68; (P) 144.31; (R1) 144.99; More….

EUR/JPY is staying in consolidation below 145.56 temporary top and intraday bias remains neutral. Rebound from 137.37 could be extending. On the upside, break of 145.66 will target 148.38 high. However, break of 143.12 minor support will mix up the outlook again and turn bias to the downside for 138.81 support instead.

In the bigger picture, as long as 55 week EMA (now at 139.78) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, sustained break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Decisive break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 115.57; (P) 115.82; (R1) 116.20; More….

EUR/JPY edged lower to 115.44 but quickly recovered. Downside momentum is also unconvincing as seen in 4 hour MACD. Intraday bias remains neutral first. Further fall is expected as long as 117.21 resistance holds. Break of 115.44 will target 100% projection of 121.14 to 116.33 from 119.00 at 114.19.

In the bigger picture, down trend from 137.49 (2018 high) is possibly resuming. Medium term bearishness is maintained with the cross staying well inside falling channel established since 137.49 (2018 high), as well as below falling 55 week EMA. Next downside target will be 109.48 (2016 low). In any case, outlook will remain bearish as long as 122.87 resistance holds, in case of rebound.

Daily Pivots: (S1) 115.94; (P) 116.66, (R1) 117.06; More….

Intraday bias in EUR/JPY remains neutral at this point. The rebound from 115.44 short term bottom is in favor to continue. On the upside, break of 117.77 will target 119.00 resistance next. Sustained break there will indicate that whole fall from 122.87 has completed and turn outlook bullish. On the downside, break of 115.44 will resume larger down trend instead.

In the bigger picture, there is no clear indication of trend reversal yet, with the cross staying well inside falling channel. Fall from 137.49 (2018 high) is still in progress for 109.48 (2016 low). Also, in any case, outlook will remain bearish as long as 122.87 resistance holds, in case of another rebound.

Daily Pivots: (S1) 128.70; (P) 128.93; (R1) 129.28; More….

Intraday bias in EUR/JPY stays neutral with focus on 38.2% retracement of 124.89 to 130.86 at 128.57. As long as 128.57 holds, another rise is still mildly in favor. On the upside, above 129.83 minor resistance will turn bias back to the upside for 130.86 first and then resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. However, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61/89.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

Daily Pivots: (S1) 132.78; (P) 132.94; (R1) 133.16; More….

EUR/JPY is staying in consolidation below 133.42 and intraday bias remains neutral. Downside of retreat should be contained well above 130.97 to bring rally resumption. On the upside, break of 133.42 will resume larger up trend from 114.42, and target 100% projection of 114.42 to 127.07 from 121.63 at 134.28.

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) 120.38; (P) 120.69; (R1) 121.16; More…

EUR/JPY is staying in tight range below 121.32 and intraday bias stays neutral. We’re holding on to the view that corrective fall from 124.08 has completed at 119.32 already. Above 121.32 will turn bias to the upside for 123.30 resistance. Break of 123.30 will likely extend the whole medium term rise from 109.20 through 124.08 high. Below 119.32 will bring another fall. In that case, downside should be contained by 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) and bring rebound.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. 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. Nonetheless, decisive break of 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) will argue that rise from 109.20 is completed and turn outlook bearish for 61.8% retracement at 114.88 and below.

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Daily Pivots: (S1) 131.86; (P) 132.23; (R1) 132.44; More….

EUR/JPY reaches as high as 132.61 but lost momentum since then. For now, further rally is in favor as long as 131.09 minor support holds. Rebound from 128.94 would extend to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. However, break of 131.09 will indicate completion of the rebound and bring retest of 128.94 low instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading another, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 122.05; (P) 122.31; (R1) 122.49; More….

EUR/JPY’s break of 122.10 minor support suggests that corrective recovery from 120.78 has completed at 123.18 already. Intraday bias is turned back to the downside for retesting 120.78 first. Break there will resume whole decline from 127.50 and target 118.62 low next. In case of another rise, we’d continue to expect strong resistance form 123.73 to complete the recovery to bring fall resumption.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

EUR/JPY dropped to as low as 118.37 last week and breach of 118.46 support suggests resumption of whole decline from 122.87. Also, the development revises the case that larger rebound from 115.86 has completed at 122.87 already. Initial bias stays on the downside this week for 100% projection of 122.87 to 118.46 from 121.39 at 116.98 next. For now, risk will remain on the downside as long as 121.39 resistance holds, in case of recovery.

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 just rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 114.84 support next.

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 125.42), this is the preferred case.

Daily Pivots: (S1) 164.20; (P) 164.51; (R1) 165.08; More…

Intraday bias in EUR/JPY stays neutral for the moment. On the upside, firm break of 165.33 will resume larger up trend towards 169.96 key resistance next. However, decisive break of 162.26 support will argue that it’s at least correcting the rise from 153.15, and target 38.2% retracement of 153.15 to 165.33 at 160.67.

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.

EUR/JPY’s rally last week argues that correction from 148.38 has completed at 140.75 already. But as a temporary top was formed at 146.71, initial bias is turned neutral this week first. On the upside, break of 146.71 will resume the rise from 140.75 to retest 148.38 high. However, break of 143.48 support will dampen this bullish case and bring deeper fall back to 140.75 support instead.

In the bigger picture, as long as 55 week EMA (now at 138.32) 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.

In the long term picture, outlook will stay bullish as long as 134.11 resistance turned support holds (2021 high). Sustained break of 149.76 (2014 high) will open up further rally, as resumption of the rise from 94.11 (2012 low), towards 169.96 (2008 high).

Daily Pivots: (S1) 166.28; (P) 166.68; (R1) 167.42; More…

Intraday bias in EUR/JPY remains on the upside as recent up trend continues. Next target is 168.72 projection level. On the downside, below 166.66 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 61.8% projection of 139.05 to 164.29 from 153.15 at 168.72, or even further to 169.96 (2008 high). Break of 162.26 support is needed to be the first sign of medium term topping. Otherwise, outlook will stay bullish in case of retreat.

Daily Pivots: (S1) 125.46; (P) 125.98; (R1) 126.67; More….

Intraday bias in EUR/JPY remains neutral for the moment. With 126.98 minor resistance intact, deeper fall could still be seen. But considering loss of downside momentum, downside will likely be contained by 124.08/61 key support zone to bring rebound. On the upside, break of 126.98 will indicate short term bottoming and turn bias back to upside for stronger rebound.

In the bigger picture, focus is back on 124.08 key resistance turned support. Decisive break there will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next. Sustained break there will pave the way to 109.03 and below. Meanwhile, rebound from 124.08 will keep medium term bullishness intact for another high above 137.49.

Daily Pivots: (S1) 136.60; (P) 137.00; (R1) 137.70; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, break of 138.38, and sustained trading above 55 day EMA (now at 138.44) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

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.