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Action Insight: EURJPY Technical Outlook

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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 30 14 07:04 GMT
As noted before, EUR/JPY's actions from 145.68 are probably developing into a triangle pattern with fall from 141.21 as the last wave. Deeper decline is mildly in favor to 135.72. But we'd expect strong support above 135.50 key level to bring reversal. On the upside, above 139.68 minor resistance will turn bias back to the upside for retreating 141.21 resistance. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 29 14 08:11 GMT
As noted before, EUR/JPY's actions from 145.68 are probably developing into a triangle pattern with fall from 141.21 as the last wave. Deeper decline is mildly in favor to 135.72. But we'd expect strong support above 135.50 key level to bring reversal. On the upside, above 139.68 minor resistance will turn bias back to the upside for retreating 141.21 resistance. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 27 14 07:41 GMT
EUR/JPY's deeper than expected pull back from 141.21 argued that the consolidation pattern from 145.68 hasn't completed yet. And it's probably developing into a triangle pattern with fall from 141.21 as the last wave. Initial bias is mildly on the downside this week for 61.8% retracement of 135.81 to 141.21 at 137.87 and below. Break will target a test on 135.72. But we'd expect strong support above 135.50 key level to bring reversal. On the upside, above 139.68 minor resistance will turn bias back to the upside for retreating 141.21 resistance. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 26 14 06:56 GMT
The pull back from 141.12 is deeper than expected and reached as low as 138.38 so far. Intraday bias is mildly on the downside and further fall could be seen to 61.8% retracement of 135.81 to 141.21 at 137.87 and below. In that case, we'd expect strong support above 135.50 key level to contain downside and bring rebound. On the upside, above 139.68 minor resistance will turn bias back to the upside for 141.21 resistance.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 25 14 07:44 GMT
EUR/JPY's retreat from 141.21 extended lower and breached mentioned 139.19 cluster support (38.2% retracement of 135.81 to 141.21 at 139.14). At this point, we'd still expect strong support from this level to contain downside and bring rebound. And, break of 141.21 will target 143.78/145.68 resistance zone. Though, sustained trading below 139.14/9 will bring deeper fall back to 61.8% retracement of 137.87.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 24 14 07:01 GMT
Intraday bias in EUR/JPY remains neutral for consolidations below 141.21 temporary top. Downside is expected to be contained 139.19 cluster support (38.2% retracement of 135.81 to 141.21 at 139.14) and bring rebound. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 23 14 04:11 GMT
Intraday bias in EUR/JPY remains neutral for consolidations below 141.21 temporary top. Downside is expected to be contained 139.19 cluster support (38.2% retracement of 135.81 to 141.21 at 139.14) and bring rebound. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 22 14 09:30 GMT
Intraday bias in EUR/JPY remains neutral for consolidations below 141.21 temporary top. Downside is expected to be contained 139.19 cluster support (38.2% retracement of 135.81 to 141.21 at 139.14) and bring rebound. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 20 14 08:50 GMT
EUR/JPY surged to as high as 141.21 last week. The development confirmed that the consolidation pattern from 145.68 has completed with three waves down to 135.72, just ahead of 135.50 key support level. With a temporary top in place at 141.12, initial bias is neutral this week for some consolidations first. We'd expect downside to be contained by 139.19 cluster support (38.2% retracement of 135.81 to 141.21 at 139.14 and bring rebound. Break of 141.21 will target 143.78/145.68 resistance zone.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 19 14 07:02 GMT
EUR/JPY reaches as high as 141.21 so far today as recent rally continues. Intraday bias remains on the upside. As noted before, Consolidation pattern from 145.68 has completed with three waves down to 135.72 just ahead of 135.50 key support. Retest of 143.78/145.68 resistance zone should be seen next. On the downside, below 140.24 minor support will turn bias neutral and bring consolidations before staging another rise.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 18 14 08:05 GMT
The break of 139.27 resistance confirmed near term reversal. That is, the consolidation pattern from 145.68 has completed with three waves down to 135.72 just ahead of 135.50 key support. Intraday bias remains on the upside for resting 143.78/145.68 resistance zone. On the downside, break of 138.46 support is needed to indicate near term topping. Otherwise, outlook will remain bullish in case of retreat.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 17 14 03:58 GMT
Intraday bias in EUR/JPY remains neutral for the moment. With 138.10 minor support intact, further rise is still in favor. The consolidation pattern from 145.68 could have completed with three waves down to 135.72 just ahead of 135.50 key support level. Break of 138.27 will confirm this bullish case and target 143.78/145.68 resistance zone. Though, below 138.10 will dampen the bullish case and turn focus back to 135.50/72 support zone instead.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 15 14 08:46 GMT
EUR/JPY faced some resistance from 139.27 and intraday bias is turned neutral first. Further rise is still expected with 138.10 minor support intact. As noted before, the consolidation pattern from 145.68 could have completed with three waves down to 135.72 just ahead of 135.50 key support level. Break of 138.27 will confirm this bullish case and target 143.78/145.68 resistance zone. Though, below 138.10 will dampen the bullish case and turn focus back to 135.50/72 support zone instead.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 13 14 10:58 GMT
EUR/JPY rebounded strongly last week. The break of 138.27 resistance and then the falling channel suggests near term trend reversal. That is, fall from 143.78 should have finished at 135.72, just ahead of 135.50 key support level. Also, the consolidation pattern from 145.68 could have completed with three waves down to 135.72 already. Initial bias remains on the upside this week for 139.27 resistance first. Break will confirm this bullish case and target 143.78/145.68 resistance zone. On the downside, below 138.10 minor support will dampen this immediate bullish case and turn intraday bias neutral first.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 12 14 08:02 GMT
Intraday bias in EUR/JPY remains on the upside for the moment. Prior break of 138.27 argues that the cross has bottomed at 135.72, just ahead of 135.50 key support level. Further rally is in favor for 138.27 resistance first. Break will confirm this case and turn outlook bullish. Nonetheless, below 137.65 minor support will turn focus back to 135.50 instead.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 11 14 09:07 GMT
The breach of 138.27 minor resistance argues that near term trend is possibly reversal. And, the cross has bottomed at 135.72, just ahead of 135.50 key support level. Intraday bias is back on the upside for 138.27 resistance first. Break will confirm this case and turn outlook bullish. Nonetheless, below 137.28 minor support will turn focus back to 135.50 instead.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 10 14 06:10 GMT
Intraday bias in EUR?JPY remains neutral for the moment. Focus stays on 135.50 key support level. Decisive break there will carry larger bearish implication and would target 131.21 support next. On the upside, break of 138.27 will indicate near term reversal instead and will bring stronger rebound back towards 139.27 resistance.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 09 14 07:10 GMT
EUR/JPY recovers ahead of 135.72 support and intraday bias is turned neutral again. Focus remains on 135.50 key support level. Decisive break there will carry larger bearish implication and would target 131.21 support next. On the upside, break of 138.27 is needed to indicate reversal. Otherwise, outlook will stay cautiously bearish in case of recovery.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 08 14 02:46 GMT
Intraday bias in EUR/JPY remains on the downside for 135.50 key support level. Decisive break there will carry larger bearish implication and would target 131.21 support next. On the upside, break of 138.27 is needed to indicate reversal. Otherwise, outlook will stay cautiously bearish in case of recovery.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Sep 06 14 07:48 GMT
Despite rebounding to 138.27, EUR/JPY reversed from there and dropped sharply since then. The strong break of 136.41 minor support indicates that the corrective rebound from 135.72 has completed already. More importantly, larger fall from 143.78 could be resuming. Initial bias remains on the downside this week for a test on 135.50 key support level. On the upside, break of 138.27 is needed to indicate reversal. Otherwise, outlook will stay cautiously bearish in case of recovery.
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