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.

Daily Pivots: (S1) 130.17; (P) 130.46; (R1) 130.67; More….

Intraday bias in EUR/JPY remains on the downside at this point. Deeper fall would be seen for 127.91 key support. On the upside, however, break of 131.40 minor resistance will turn bias back to the upside for stronger rebound, probably back to retest 133.44 high.

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.

EUR/JPY dipped to 120.54 last week but drew support from 55 day EMA and recovered. Upside momentum as not too convincing yet and thus, initial bias is neutral this week first. Nonetheless, the development argues that price actions from 124.08 are corrective in nature and rebound from 109.20 is not completed. Break of 124.08 will target 126.09 key resistance next. Meanwhile, below 120.54 will target 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39).

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. Sustained trading below 55 day EMA will pave the way to retest 109.20.

In the long term picture, current 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.

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Daily Pivots: (S1) 124.04; (P) 124.46; (R1) 125.30; More…

EUR/JPY’s rally resumed by taking out 124.53 and reaches as high as 125.15 so far. Intraday bias is back on the upside. Current rise from 114.84 is part of the medium term rebound from 109.03 and should target 126.09 resistance first. Decisive break there will extend the rise to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. On the downside, break of 123.30 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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) 160.76; (P) 161.01; (R1) 161.25; More…

Intraday bias in EUR/JPY remains on the upside for 161.84 resistance. Firm break there will rebound whole rise from 153.15 to retest 161.84. For now, further rally is expected as long as 158.06 support holds, in case of retreat.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 only. As long as 148.38 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage. Next target would be 169.96 (2008 high).

Daily Pivots: (S1) 122.16; (P) 122.94; (R1) 123.47; More…

Intraday bias in EUR/JPY remains neutral as consolidation from 124.08 continues. Overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. As rise from 109.20 is still seen as a corrective pattern, we’d be cautious on topping around 126.09. Meanwhile, break of 120.90 will indicate short term topping and turn bias to the downside for 55 days EMA (now at 120.27) and below.

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. Sustained trading below 55 day EMA will pave the way to retest 109.20.

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Daily Pivots: (S1) 126.17; (P) 126.34; (R1) 126.67; More….

Intraday bias in EUR/JPY remains neutral for the moment as consolidation from 126.74 continues. Break of 126.74 will put focus on 127.07 resistance. Decisive break there will resume whole rise from 114.42. Next target will be 128.67 medium term fibonacci level. In any case, outlook will remain cautiously bullish as long as 125.13 resistance turned support holds, in case of another retreat.

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 next. 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) 124.75; (P) 125.10; (R1) 125.59; More….

Intraday bias in EUR/JPY remains on the upside for the moment. Rebound from 123.65 is in progress and could extend to 126.78/127.50 resistance zone first. On the downside, however, break of 123.56 will resume the fall from 127.50 to 61.8% retracement of 118.62 to 127.50 at 122.01.

In the bigger picture, rebound from 118.62 might have completed earlier than expected at 127.50. EUR/JPY is held well inside medium term falling channel, and below 55 week EMA (now at 127.61). That is, the down trend from 137.49 (2018 high) might still be in progress. Break of 118.62 will target 109.03/114.84 long term support zone. On the upside, however, break of 127.50 will extend the rebound from 118.62 to 133.12 key resistance instead.

Daily Pivots: (S1) 130.16; (P) 130.38; (R1) 130.72; More….

EUR/JPY is still bounded in tight range and intraday bias stays neutral at this point. On the downside, break of 129.56 minor support will extend the consolidation from 130.65 with another fall. Intraday bias will be turned back to the downside for 128.28 support. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 will resume the whole rally from 114.42, for 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 125.07 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) 126.50; (P) 126.68; (R1) 126.91; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 127.48 is extending. In case of another fall, downside should be contained by 125.07 support to bring rebound. On the upside, decisive break of 127.48 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) 119.27; (P) 120.18; (R1) 120.66; More…

Intraday bias in EUR/JPY stays neutral first. On the downside, below 119.32 will extend the corrective fall from 124.08. In that case, we’d expect strong support from 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) to contain downside and bring rebound. On the upside, break of 121.32 minor resistance should revive the case that such correction is completed. And, intraday bias would then be turned back to the upside for 123.30/124.08 resistance zone.

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) 141.30; (P) 141.73; (R1) 142.40; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. Risk remains on the downside as long as 143.61 resistance holds. Break of 138.81 will affirm the bearish case that fall from 145.55 is a leg inside the whole corrective decline from 148.38. Next target is 137.37 low, and then 135.40 fibonacci level. However, break of 143.61 will dampen the bearish case and bring stronger rise to 145.55 resistance instead.

In the bigger picture, as long as 55 week EMA (now at 139.58) 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) 120.09; (P) 120.53; (R1) 120.80; More….

Intraday bias in EUR/JPY remains on the downside at this point. Corrective rise from 119.24 could have completed at 121.01. Deeper fail would be seen towards 119.24. Still, 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) 132.43; (P) 132.82; (R1) 133.10; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 133.42 temporary top. Downside of retreat should be contained well above 130.97 support to bring rally resumption. On the upside, break of 133.42 will extend larger up trend to 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) 129.87; (P) 130.23; (R1) 130.63; More…

EUR/JPY’s rally resumes by taking out 130.76 and reaches as high as 131.17 so far. Intraday bias is back on the upside. Current rise should now target next long term fibonacci level at 134.20. On the downside, break of 129.83 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 125.80 resistance turned support holds.