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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 | Dec 09 16 04:06 GMT
EUR/JPY continues trade in range of 11871/123.34 and intraday bias remains neutral first. As long as 118.71 support holds, further rally is expected. Current rise from 109.20 is seen as a medium term corrective move and would target 126.09 resistance next. We'd be cautious on topping above there. Meanwhile, break of 118.71 support will argue that such rebound is completed and turn outlook bearish.
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EUR/JPY Mid-Day Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 08 16 14:09 GMT
Sharp fall from 123.34 indicates temporary topping and intraday bias is turned neutral. But still, as long as 118.71 support holds, further rally is expected. Current rise from 109.20 is seen as a medium term corrective move and would target 126.09 resistance next. We'd be cautious on topping above there. Meanwhile, break of 118.71 support will argue that such rebound is completed and turn outlook bearish.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 08 16 10:01 GMT
NO change in EUR/JPY's outlook. As long as 118.71 support holds, further rally is expected. Current rise from 109.20 is seen as a medium term corrective move and would target 126.09 resistance next. We'd be cautious on topping above there. Meanwhile, break of 118.71 support will argue that such rebound is completed and turn outlook bearish.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 07 16 08:02 GMT
As long as 118.71 support holds, further rally is expected in EUR/JPY. Current rise from 109.20 is seen as a medium term corrective move and would target 126.09 resistance next. We'd be cautious on topping above there. Meanwhile, break of 118.71 support will argue that such rebound is completed and turn outlook bearish.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 06 16 05:47 GMT
EUR/JPY's rally resumed by taking out 121.88 and reaches as high as 123.18 so far. Intraday bias is back on the upside. Current rise from 109.20 is seen as a medium term corrective move and would target 126.09 resistance next. On the downside, break of 118.71 support is needed to indicate short term topping. Otherwise, further rally is in favor in case of retreat.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 05 16 05:06 GMT
EUR/JPY drops sharply today but stays above 118.54 support. Intraday bias remains neutral first. Break of 118.54 will confirm short term topping and bring deeper fall back to 55 days EMA (now at 116.49). Meanwhile, price actions from 109.20 are viewed as a corrective move. Sustained break of 116.49 will indicate that it's completed and bring retest of 109.20 low. On the upside, above 121.88 will target 126.09 key support turned resistance.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 03 16 11:17 GMT
EUR/JPY's rally continued last week and reached as high as 121.88. Due to loss of upside momentum, as seen in 4 hours MACD, initial bias is turned neutral this week first. Further rally is expected as long as 118.54 support holds. Above 121.88 will target 126.09 support turned resistance. However, break of 118.54 will indicate short term topping and turn bias back to the downside for 55 days EMA (now at 116.33).
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 02 16 05:57 GMT
Intraday bias in EUR?JPY remains on the upside for the moment. Current rise from 109.20 is corrective the larger down trend from 149.76. Sustained trading above long term fibonacci level at 121.36 will pave the way to 126.09 key support turned resistance next. On the downside, below 120.15 minor support will turn bias neutral and bring retreat first.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Dec 01 16 09:22 GMT
EUR/JPY's rally extends to as high as 121.54 so far and met long term fibonacci level at 121.36. Intraday bias stays on the upside for the moment. Rise from 109.20 is seen as correcting the larger down trend from 149.76. Sustained break of 121.36 will bring further rally to 126.09 support turned resistance. On the downside, break of 118.54 support is needed to confirm short term topping. Otherwise, outlook will stay bullish in case of retreat.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 30 16 11:54 GMT
EUR/JPY's rally resumes by taking out 120.15 and reaches as high as 120.73 so far. Intraday bias is back on the upside for long term fibonacci level at 121.36. As noted before, the upside acceleration and break of the medium term trend line resistance argues that rebound from 109.20 is correcting the larger down trend from 149.76. Break of 121.36 will bring further rally to 126.09 support turned resistance. Outlook will stay bullish as long as 118.54 support holds.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 29 16 08:47 GMT
Intraday bias in EUR/JPY remains neutral for consolidation below 120.15 temporary top. Downside of retreat should be contained by 38.2% retracement of 112.60 to 120.15 at 117.26 and bring rebound. As noted before, the upside acceleration and break of the medium term trend line resistance argues that rebound from 109.20 is correcting the larger down trend from 149.76. Above 120.15 will target long term fibonacci level at 121.36. Break of 121.36 will bring further rally to 126.09 support turned resistance.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 28 16 06:40 GMT
Break of 118.98 minor support suggests temporary topping at 120.15. Intraday bias in EUR/JPY is turned neutral for consolidations. Downside of retreat should be contained by 38.2% retracement of 112.60 to 120.15 at 117.26 and bring rebound. As noted before, the upside acceleration and break of the medium term trend line resistance argues that rebound from 109.20 is correcting the larger down trend from 149.76. Above 120.15 will target long term fibonacci level at 121.36. Break of 121.36 will bring further rally to 126.09 support turned resistance.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 26 16 13:06 GMT
EUR/JPY's rally continued last week and reached as high as 120.15. Initial bias stays on the upside this week for long term fibonacci level at 121.36. Current upside acceleration and break of the medium term trend line resistance argues that rebound from 109.20 is correcting the larger down trend from 149.76. Break of 121.36 will bring further rally to 126.09 support turned resistance. On the downside, below 118.98 minor support will turn bias neutral and bring consolidation first.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 25 16 04:37 GMT
EUR/JPY rises to as high as 120.10 so far today as recent rally continues. Intraday bias stays on the upside for long term fibonacci level at 121.36. At this point, we'd expect strong resistance from there to limited upside. However, considering the break of long term trend line resistance, further upside acceleration would indicate trend reversal. On the downside, below 118.98 minor support will turn bias neutral and bring consolidation first.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 24 16 09:44 GMT
EUR/JPY's rally continues today and reaches as high as 119.62 so far. Intraday bias remains on the upside for longer term fibonacci level at 121.36. At this point, we'd expect strong resistance from there to limited upside. However, considering the break of long term trend line resistance, further upside acceleration would indicate trend reversal. On the downside, below 118.49 minor support will turn bias neutral and bring consolidation first.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 23 16 05:03 GMT
Intraday bias in EUR/JPY remains on the upside for 118.45 resistance. At this point, price actions from 109.20 are seen as a corrective pattern. 118.45, which is close to long term trend line resistance is the first hurdle. The second one will be longer term fibonacci level at 121.36 where we'd expect strong resistance there. On the downside, below 116.24 will indicate short term topping and turn bias back to the downside for 112.60 support.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 22 16 06:14 GMT
Intraday bias in EUR/JPY remains on the upside as rise from 112.60 extends today. Next target will be 118.45 resistance. At this point, price actions from 109.20 are seen as a corrective pattern. We'd expect strong resistance from longer term fibonacci level at 121.36 to limit upside. On the downside, below 116.24 will indicate short term topping and turn bias back to the downside for 112.60 support.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 21 16 07:36 GMT
Intraday bias in EUR/JPY remains on the upside as rise from 112.60 extends today. Next target will be 118.45 resistance. At this point, price actions from 109.20 are seen as a corrective pattern. We'd expect strong resistance from longer term fibonacci level at 121.36 to limit upside. On the downside, below 116.24 will indicate short term topping and turn bias back to the downside for 112.60 support.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 19 16 10:35 GMT
EUR/JPY's rally continued last week despite relatively weak momentum. Initial bias is on the upside this week for 118.45 resistance and above. At this point, price actions from 109.20 are seen as a corrective pattern. We'd expect strong resistance from longer term fibonacci level at 121.36 to limit upside. On the downside, below 116.24 will indicate short term topping and turn bias back to the downside for 112.60 support.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 18 16 05:46 GMT
Intraday bias in EUR/JPY stays neutral for consolidation below 117.47 temporary top. As long as 115.29 minor support holds, further rise is expected. But still, as price actions from 109.20 are seen as a consolidative pattern, we'd expect strong resistance from longer term fibonacci level at 121.36 to limit upside. Meanwhile, below 115.29 minor support will turn bias back to the downside and extend recent consolidation from 109.20.
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