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Action Insight: EURJPY Technical Outlook

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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Nov 01 14 06:06 GMT
EUR/JPY surged sharply in response to BoJ's surprised easing. The development suggests consolidation pattern from 145.68 has completed at 134.13 already. Initial bias remains on the upside this week for 141.21 resistance first. Break will target a test on 145.68 next. On the downside, break of 138.03 support is needed to indicate short term topping. Otherwise, outlook will stay cautiously bullish in case of retreat.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 31 14 09:44 GMT
EUR/JPY's strong rise today firstly indicates that fall from 141.21 has completed. More importantly, whole correction pattern from 145.68 might be finished at 134.12 too. Intraday bias is now on the upside for 141.12 first. Break will target a test on 145.68. On the downside, break of 137.68 will mix up the outlook again and turn bias neutral.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 30 14 05:19 GMT
Despite breaching 137.93 resistance, EUR/JPY failed to sustain above there so far and intraday bias remains neutral. We'd still favor another fall. Prior break of 135.50 support was taken as an indication of medium term trend reversal. Below 135.20 minor support will turn bias to the downside for 134.13 first. Break will extend the larger fall to 131.21 support next. However, firm break of 137.93 will dampen this bearish view and 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 | Oct 29 14 02:49 GMT
The rebound from 134.13 extended higher and could continue. But again, as long as 137.93 resistance holds, deeper decline is still expected. Prior break of 135.50 support was taken as an indication of medium term trend reversal. Below 135.20 minor support will turn bias to the downside for 134.13 first. Break will extend the larger fall to 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 28 14 03:29 GMT
The recovery from 134.13 might extend higher. But as long as 137.93 resistance holds, deeper decline is still expected. Prior break of 135.50 support was taken as an indication of medium term trend reversal. Below 135.20 minor support will turn bias to the downside for 134.13 first. Break will extend the larger fall to 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 27 14 02:24 GMT
EUR/JPY edges higher as the corrective recovery from 134.13 extends. Further rise cannot be ruled out as the consolidation extends. But as long as 137.93 resistance holds, deeper decline is still expected. Prior break of 135.50 support was taken as an indication of medium term trend reversal. Below 135.20 minor support will turn bias to the downside for 134.13 first. Break will extend the larger fall to 131.21 support next. However, break of 137.93 will dampen this bearish view and turn bias back to the upside for 141.21 resistance.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 25 14 10:46 GMT
EUR/JPY's consolidation fro 134.13 continued last week and edged higher. Outlook is unchanged. Initial bias is neutral this week and some more corrective trading could be seen. But as long as 137.93 resistance holds, deeper decline is still expected. Prior break of 135.50 support was taken as an indication of medium term trend reversal. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 24 14 08:21 GMT
Intraday bias in EUR/JPY remains neutral for the moment. Prior break of 135.50 support was taken as an indication of medium term trend reversal. As long as 137.93 resistance holds, we'd expect further decline ahead. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 23 14 09:50 GMT
Intraday bias in EUR/JPY remains neutral for the moment. Prior break of 135.50 support was taken as an indication of medium term trend reversal. As long as 137.93 resistance holds, we'd expect further decline ahead. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 22 14 07:27 GMT
Intraday bias in EUR/JPY remains neutral for the moment. Prior break of 135.50 support was taken as an indication of medium term trend reversal. As long as 137.93 resistance holds, we'd expect further decline ahead. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 21 14 07:52 GMT
Intraday bias in EUR/JPY remains neutral for the moment. Prior break of 135.50 support was taken as an indication of medium term trend reversal. As long as 137.93 resistance holds, we'd expect further decline ahead. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 20 14 03:29 GMT
Intraday bias in EUR/JPY remains neutral for the moment. Prior break of 135.50 support was taken as an indication of medium term trend reversal. As long as 137.93 resistance holds, we'd expect further decline ahead. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and turn bias back to the upside for 141.21 resistance.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 18 14 09:01 GMT
EUR/JPY dropped further to as low as 134.13 last week before forming a temporary low there and recovered. Initial bias is neutral this week first. The break of 135.50 support was taken as an indication of medium term trend reversal. As long as 137.93 resistance holds, we'd expect further decline ahead. Below 134.13 will target 131.21 support next. However, break of 137.93 will dampen this bearish view and 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 | Oct 16 14 03:37 GMT
As noted before, the breach of 135.50 support argues that the medium term trend is possibly reversing. Intraday bias remains on the downside. Sustained trading below 135.50 will confirm this case and target 131.21 support next. On the upside, above 136.54 resistance will indicate strong support from 135.50 and will turn bias neutral first. We'll gauge the strength of the rebound then.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 15 14 04:28 GMT
The breach of 135.50 support argues that the medium term is possibly reversing. Intraday bias remains on the downside. Sustained trading below 135.50 will confirm this case and target 131.21 support next. On the upside, above 136.54 resistance will indicate strong support from 135.50 and will turn bias neutral first. We'll gauge the strength of the rebound then.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 14 14 06:58 GMT
With 4 hours MACD crossed above signal line, intraday bias in EUR/JPY is turned neutral first. Price actions from 145.68 is probably developing into a triangle pattern with fall from 141.21 as the last wave. Break of 137.93 resistance will indicate near term reversal and turn bias back to the upside for 141.21 resistance. However, sustained break of 135.50 key support level will carry larger bearish implications.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 13 14 09:29 GMT
Focus remains on 135.50 key support level for the moment. Price actions from 145.68 is probably developing into a triangle pattern with fall from 141.21 as the last wave. Break of 137.93 resistance will indicate near term reversal and turn bias back to the upside for 141.21 resistance . However, sustained break of 135.50 will carry larger bearish implications.
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EUR/JPY Weekly Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 11 14 09:16 GMT
EUR/JPY's fall from 141.21 extended lower despite interim recovery. Initial bias remains on the downside this week and further fall could be seen to 135.50 key support level. As noted before, price actions from 145.68is probably developing into a triangle pattern with fall from 141.21 as the last wave. We'd be cautious on strong support from 135.50 to bring reversal. However, sustained break of 135.50 will carry larger bearish implications. On the upside, above 137.93 resistance will turn bias back to the upside.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 09 14 08:12 GMT
The break of 137.87 minor resistance argues that fall from 141.21 has completed at 136.55 already. Intraday bias is turned back to the upside for 141.21 first. The consolidation pattern from is viewed as a five wave triangle structure and could have finished at 136.55. Break of 141.21 will target 145.68. Below 136.55 will extend the fall from 141.21. But in that case, we'd expect strong support above 135.50 key level to bring reversal.
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EUR/JPY Daily Outlook Print E-mail
EURJPY Outlook | Written by ActionForex.com | Oct 08 14 03:34 GMT
EUR/JPY's fall from 141.21 is still in progress and is targeting 135.81 support. As noted before, such decline is viewed as the fifth leg of the triangle pattern from 145.68. We'd expect strong support above 135.50 key level to bring reversal. On the upside, above 137.87 minor resistance will turn bias back to the upside for retesting 141.21 resistance.
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