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Action Insight: EURJPY Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 23 17 05:32 GMT
Intraday bias in EUR/JPY remains neutral for the moment. 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). We'd expect strong support from there to contain downside.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 21 17 03:58 GMT
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).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 20 17 07:10 GMT
Break of 1.2241 minor resistance argues that the corrective fall from 1240.08 has completed at 120.54 already. More importantly, rebound from 109.20 is still in progress. Intraday bias is back on the upside fro 124.08 first. Break will target 126.09 key resistance next. On the downside, break of 120.54 will bring deeper fall to 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 19 17 08:29 GMT
A temporary low is in place at 120.54 in EUR/JPY after drawing support from 55 day EMA and intraday bias is turned neutral first. Break of 122.41 will argue that the correction from 124.08 has completed. More importantly, that will indicate that rebound from 109.20 is still in progress. In that case, intraday bias will be turned to the upside for 124.08 and then 126.09 key resistance. Below 120.54 will bring deeper fall to 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 18 17 10:07 GMT
Intraday bias in EUR/JPY remains cautiously on the downside for 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). Whole corrective rebound from 109.20 is likely completed at 124.08, ahead of 126.09 key resistance. Sustained break there will target 61.8% retracement at 114.88 and below. On the upside, above 122.41 resistance is needed to indicate completion of the decline. Otherwise, outlook will now stay bearish in case of recovery.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 17 17 09:59 GMT
As noted before, EUR/JPY's break of 120.90 support indicates near term reversal. That is, the corrective rebound from 109.20 is likely completed at 124.08, ahead of 126.09 key resistance. Intraday bias stays on the downside for 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). Sustained break there will target 61.8% retracement at 114.88 and below. On the upside, above 122.41 resistance is needed to indicate completion of the decline. Otherwise, outlook will now stay bearish in case of recovery.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 16 17 07:29 GMT
EUR/JPY's fall continues today and the break of 120.90 support indicates near term reversal. That is, the corrective rebound from 109.20 is likely completed at 124.08, ahead of 126.09 key resistance. Intraday bias is now on the downside for 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). Sustained break there will target 61.8% retracement at 114.88 and below. On the upside, above 122.41 resistance is needed to indicate completion of the decline. Otherwise, outlook will now stay bearish in case of recovery.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 14 17 04:53 GMT
EUR/JPY dipped mildly last week but stayed in range of 120.90/124.08. Outlook is unchanged and initial bias stays neutral this week first. Further rally is still 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 118.45 resistance turned support and below.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 13 17 07:05 GMT
EUR/JPY is staying in the consolidation from 124.08 and intraday bias remains neutral. 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 120.43) and below.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 12 17 05:20 GMT
EUR/JPY is staying in the consolidation from 124.08 and intraday bias remains neutral. 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 120.33) and below.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 11 17 07:12 GMT
EUR/JPY is staying in the consolidation from 124.08 and intraday bias remains neutral. 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 120.33) and below.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 10 17 03:04 GMT
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.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 09 17 07:46 GMT
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 120.22).
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 07 17 07:45 GMT
EUR/JPY stayed in the sideway pattern from 124.08 and outlook is unchanged. Initial bias remains neutral this week first. 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 120.10).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 06 17 06:29 GMT
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. Considering bearish divergence condition in 4 hours MACD, 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 119.98).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 05 17 08:43 GMT
EUR/JPY is staying in range below 124.08 and intraday bias remains neutral for the moment. Consolidation could extend but overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, 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 119.98).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 04 17 08:34 GMT
EUR/JPY is staying in range below 124.08 and intraday bias remains neutral for the moment. Consolidation could extend but overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, 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 119.89).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Jan 03 17 08:32 GMT
EUR/JPY is staying in range below 124.08 and intraday bias remains neutral for the moment. Consolidation could extend but overall, further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, 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 119.81).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 30 16 04:08 GMT
EUR/JPY rebounds strongly but stays in range below 124.08. Intraday bias remains neutral for more consolidation. Further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, 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 119.44).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 29 16 08:28 GMT
EUR/JPY's consolidation from 124.08 is still in progress. Intraday bias remains neutral for sideway trading. Further rally is in favor as long as 120.90 support holds. Above 124.08 will target 126.09 key resistance next. Considering bearish divergence condition in 4 hours MACD, 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 119.42).
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