Daily Pivots: (S1) 143.03; (P) 143.32; (R1) 143.85; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 145.62 extends. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 at 153.27.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

Daily Pivots: (S1) 163.56; (P) 164.24; (R1) 164.69; More…

Intraday bias in EUR/JPY as turned neutral again as it retreated ahead of 165.33 resistance. Further rally will remain in favor as long as 162.59 support holds, in case of retreat. Break of 165.33 will resume larger up trend.

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) 141.27; (P) 141.74; (R1) 142.21; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. 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 138.62) 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) 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.

Daily Pivots: (S1) 131.73; (P) 132.17; (R1) 132.46; More….

Intraday bias in EUR/JPY is turned neutral as it’s trying to draw support from 4 hour 55 EMA. 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) 126.00; (P) 126.31; (R1) 126.70; More….

EUR/JPY is staying in consolidation below 127.01 and intraday bias remains neutral first. On the upside, firm break of 127.07 will resume whole rebound from 114.42. Next target is 128.67 medium term fibonacci level. On the downside, though, break of 125.70 support will turn bias to the downside, to extend the consolidation pattern from1 27.07 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. 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) 164.42; (P) 164.67; (R1) 165.14; More…

Range trading continues in EUR/JPY and intraday bias remains neutral. More consolidations could be seen below 165.33.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) 133.33; (P) 133.74; (R1) 134.27; More…

At this point, intraday bias remains on the upside for further rally. Firm break of 134.20 fibonacci level will pave the way to 141.04 resistance next. On the downside, below 132.94 minor support will turn intraday bias neutral and bring consolidations. But firm break of 131.39 resistance turned support is needed to be the first sign of near term reversal. 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.

Daily Pivots: (S1) 142.61; (P) 143.34; (R1) 144.70; More….

Intraday bias in EUR/JPY remains mildly on the upside. Rise from 137.32 should target retesting 145.62 high. Firm break there will resume larger up trend. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

Daily Pivots: (S1) 131.92; (P) 132.33; (R1) 132.61; More….

Further rise is expected in EUR/JPY with 131.63 support intact. Current up trend from 114.42 should target 100% projection of 114.42 to 127.07 from 121.63 at 134.28 next. However, firm break of 131.63 support should indicate short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 130.23) first.

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).

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) 131.55; (P) 131.85; (R1) 132.32; More….

At this point, EUR/JPY is still struggling to take out 131.65 key support decisively. Intraday bias stays neutral first. As noted before. Sustained break of 131.65 will confirm rejection from 134.20 fibonacci level and confirm near term reversal. And, in such case, intraday bias will be turned to the downside for 127.55 key support level. Meanwhile, in case of another rise, decisive break of 134.39/48 resistance zone is needed to confirm up trend resumption. Otherwise, even in case of rebound, near term outlook is neutral at best.

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) 119.81; (P) 120.12; (R1) 120.35; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 119.80 temporary low. Upside should be limited by 121.26 minor resistance to bring another decline. The corrective rise from 115.86 should be completed at 122.87, on bearish divergence condition in daily MACD Break of 119.80 will target a rest on 115.86 low. However, break of 121.26 will dampen this bearish view and turn focus back to 122.87 high.

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) 117.21; (P) 118.45; (R1) 119.60; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral first. On the upside, firm break of 121.39 will reaffirm the strong support from 115.86, and pave the way back to 112.87 resistance next. 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) 131.89; (P) 132.13; (R1) 132.46; More….

Near term outlook remains bearish with 133.38 resistance intact. Sustained trading below 132.04 cluster support (23.6% retracement of 114.84 to 137.49 at 132.14) will indicate larger trend reversal on bearish divergence condition in daily MACD. In such case, deeper decline would be seen for 38.2% retracement at 128.38 first. However, rebound from 132.04 will retain near term bullishness. Break of 133.38 minor resistance will turn bias back to the upside for 137.49 again.

In the bigger picture, bearish divergence condition in weekly MACD indicates loss of medium term upside momentum. Sustained break of 132.04 will be the early sign of long term reversal and should bring deeper fall back to retest 124.08 key support level. Meanwhile, break of 137.49 will resume the up trend from 109.03 to 141.04/149.76 resistance zone.

Daily Pivots: (S1) 119.51; (P) 119.84; (R1) 120.11; More….

At this point, we’re still viewing price action form 121.46 as consolidation. While further pull back cannot be ruled out, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance next. However, firm break of 119.11 will argue that rise from 115.86 has completed. Intraday bias will be turned to the downside for 117.07 support.

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 125.38). Reactions from there would decide whether the medium term trend has reversed. For now, further rise is expected as long as 117.07 support holds.

Daily Pivots: (S1) 155.09; (P) 156.16; (R1) 157.05; More….

EUR/JPY’s fall from 159.75 resumed by breaking through 156.57 and intraday bias is back on the downside. This decline is seen as a larger scale correction. Deeper fall would be seen to 151.39 support. For now, risk will stay on the downside as long as 158.46 resistance holds, in case of recovery.

In the bigger picture, as long as 151.39 support holds, rise from 114.42 (2020 low) is still expected to continue. 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.

Daily Pivots: (S1) 120.49; (P) 120.92; (R1) 121.48; More….

With 120.09 minor support intact, further rise is still in favor in EUR/JPY, for 122.87 resistance. Current development argues that larger rebound from 115.85 is still in progress. Break of 122.87 will confirm this bullish case. On the downside, however, break of 120.09 minor support will turn bias back to the downside for retesting 118.46 instead.

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.

Daily Pivots: (S1) 119.68; (P) 120.38; (R1) 120.85; More….

Intraday bias in EUR/JPY is turned back to the downside as rebound from 118.46 halted after hitting 121.39. Deeper fall might be seen back to retest 118.46. On the upside, above 121.39 will resume the rebound to retest 122.87 high instead.

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.

EUR/JPY’s rally attempt was limited at 125.80 last week and retreated since then. The development suggests that consolidation from 125.80 is still in progress and is starting another falling leg. Initial bias stays neutral this week first. Deeper fall could be seen but downside should be 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rise resumption. We’re staying mildly bullish in the cross. And, break of 126.09 key resistance will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89.

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.

In the long term picture, medium term decline from 149.76 is seen as part of a long term sideway pattern from 88.96. We’re not seeing any sign of an established long term trend yet. Hence, we’ll be cautious on strong support at 94.11 in case of another fall. Also, there could be strong resistance at 149.76 in case of a medium term rise.