Thu, Jun 21, 2018 @ 21:49 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.24; (P) 127.59; (R1) 128.09; More….

Intraday bias in EUR/JPY is turned neutral with a temporary low formed at 126.63. But deeper decline is still expected with 128.50 minor resistance holds. Rebound from 124.61 could have finished at 130.33 already, after rejection by 55 day EMA. Below 126.63 will target a test on 124.08/61 support zone. Nonetheless, break of 128.50 will turn focus back to 130.33.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.61; (P) 127.59; (R1) 128.55; More….

Intraday bias in EUR/JPY remains mildly on the downside. Rebound from 124.61 could have finished at 130.33 already, after rejection by 55 day EMA. Deeper fall would be seen back to 124.08/61 support zone. On the upside, break of 128.50 minor resistance is needed to indicate completion of the fall. Otherwise, deeper decline will remain in favor even in case of recovery.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.99; (P) 128.30; (R1) 128.80; More….

EUR/JPY’s decline from 130.33 accelerates to as low as 126.79 so far. Rebound from 124.61 should have completed at 130.33 after rejection by 55 day EMA. Intraday bias is now on the downside for 124.08/61 support zone. On the upside, break of 128.50 minor resistance is needed to indicate completion of the fall. Otherwise, deeper decline will remain in favor even in case of recovery.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.92; (P) 128.22; (R1) 128.73; More….

Intraday bias in EUR/JPY remains neutral for the moment, with focus on 127.69 support minor. Break there will indicate completion of rebound from 124.61, after rejection by 55 day EMA. Deeper fall would be seen back to retest 124.61, with prospect of resuming larger decline from 137.49. On the upside, though, break of 130.33 will resume the rebound from 124.61 to retest 133.47 resistance.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Weekly Outlook

EUR/JPY edged higher to 130.33 last week but dropped sharply after failing to sustain above 55 day EMA. Initial bias is neutral this week with focus on 127.69 minor support. Break should indicate completion of whole rebound from 124.61 at 130.33. And deeper decline would be seen back to retest 124.61 first. On the upside, break of 130.33 will resume the rebound from 124.61 to retest 133.47 resistance.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.11; (P) 128.73; (R1) 129.59; More….

Focus is now on 127.78 support after the sharp decline from 130.33. Firm break there will confirm completion of the rebound from 124.61. Retest of 124.61 should be seen back then. Nonetheless, break of 103.33 will resume the rebound from 124.61 to retest 133.47 high.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.70; (P) 130.02; (R1) 130.46; More….

Despite breaching 130.26 to 130.33, there is no follow through buying in EUR/JPY. Upside momentum also stays weak as seen in 4 hour MACD. Intraday bias remains neutral first. On the upside, firm break of 130.26 will resume the rebound form 124.61 and target 133.47 key near term resistance next. On the downside, however, break of 127.78 minor support will indicate completion of the rebound from 124.61. Intraday bias will be turned back to the downside for 124.61 first.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.33; (P) 129.80; (R1) 130.11; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, above 130.26 will resume the rebound form 124.61 and target 133.47 key near term resistance next. On the downside, however, break of 127.78 minor support will indicate completion of the rebound from 124.61. Intraday bias will be turned back to the downside for 124.61 first.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.90; (P) 129.48; (R1) 130.26; More….

EUR/JPY rebounds further today but it’s staying below 130.26. Intraday bias remains neutral first. On the upside, above 130.26 will resume the rebound form 124.61 and target 133.47 key near term resistance next. On the downside, however, break of 127.78 minor support will indicate completion of the rebound from 124.61. Intraday bias will be turned back to the downside for 124.61 first.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.10; (P) 128.92; (R1) 129.72; More….

EUR/JPY rebound strongly today but stays below 130.26. Intraday bias remains neutral for the moment. ON the upside, above 130.26 will resume the rebound form 124.61 and target 133.47 key near term resistance next. On the downside, however, break of 127.78 minor support will indicate completion of the rebound from 124.61. Intraday bias will be turned back to the downside for 124.61 first.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

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EUR/JPY Weekly Outlook

EUR/JPY surged to as high as 130.26 last week but retreated sharply since then. Initial bias is neutral this week first. Despite breaking 128.94 support turned resistance, the rejection by falling 55 day EMA kept outlook bearish. EUR/JPY is also staying well inside falling channel from 137.49. Hence, break of 127.78 minor support will indicate completion of the rebound. Intraday bias will be turned back to the downside for 124.61 first. Nonetheless, above 130.26 will extend the rebound to 133.47 key near term resistance next.

In the bigger picture, despite rebound strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.06; (P) 129.67; (R1) 130.04; More….

EUR/JPY drops sharply after hitting 130.26 and intraday bias is turned neutral for some consolidations. Another rise is expected long as 127.78 minor support holds. Above 130.26 will target 131.34 first. And break will target 133.47 key resistance next. However, break of 127.78 will indicate completion of the rebound and turn bias to the downside for retesting 124.61 instead.

In the bigger picture, as long as 124.08 resistance turned support holds, medium term rise from 109.03 (2016 low) is still in progress and another high above 137.49 would be seen. Nonetheless, considering bearish divergence condition in daily MACD, decisive break of 124.08 will confirm medium term reversal and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.86; (P) 129.35; (R1) 130.22; More….

EUR/JPY’s rebound from 124.61 extends to as high as 130.12 so far today and intraday bias remains on the upside. As noted, the three wave structure of the fall from 133.47 to 124.61 suggests it’s a correction. And larger rally is not completed. Break of 131.34 resistance will pave the way to retest 133.47 high next. On the downside, break of 127.78 support is now needed to indicate completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, as long as 124.08 resistance turned support holds, medium term rise from 109.03 (2016 low) is still in progress and another high above 137.49 would be seen. Nonetheless, considering bearish divergence condition in daily MACD, decisive break of 124.08 will confirm medium term reversal and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

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EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 128.06; (P) 128.38; (R1) 128.98; More….

EUR/JPY’s strong rally today and firm break of 128.94 support turned resistance suggests that decline from 137.49 has completed at 124.61 already. The three wave structure in turn suggests that it’s a correction. And that larger rise is not finishe3d yet. Intraday bias in now on the upside for 131.34 resistance first. Break will target 133.47 key resistance next. On the downside, break of 127.78 support is now needed to indicate completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, as long as 124.08 resistance turned support holds, medium term rise from 109.03 (2016 low) is still in progress and another high above 137.49 would be seen. Nonetheless, considering bearish divergence condition in daily MACD, decisive break of 124.08 will confirm medium term reversal and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.06; (P) 128.38; (R1) 128.98; More….

Focus is now on 128.94 support turned resistance. Decisive break there will argue that fall from 137.49 has completed 124.61, ahead of 124.08 key support level. The three wave structure will indicate it’s a correction and the larger rally is not completed. In that case, further rise should be seen to 133.47 resistance next. On the downside, below 127.17 minor support will indicate rejection from 128.94 and bring retest of 124.61 first.

In the bigger picture, as long as 124.08 resistance turned support holds, medium term rise from 109.03 (2016 low) is still in progress and another high above 137.49 would be seen. Nonetheless, considering bearish divergence condition in daily MACD, decisive break of 124.08 will confirm medium term reversal and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.80; (P) 128.24; (R1) 128.89; More….

No change in EUR/JPY’s outlook. We’d continue to expect strong resistance from 128.94 support turned resistance to limit upside to complete the rebound from 124.61. Break of 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD and firm break of the medium term channel support. Focus is now on 124.08 resistance turned support. Decisive break there will confirm this bearish case and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.16; (P) 127.65; (R1) 128.17; More….

Intraday bias in EUR/JPY stays neutral at the moment. While rebound from 124.61 might extend, upside should be limited by 128.94 support turned resistance to bring reversal. On the downside, , below 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD and firm break of the medium term channel support. Focus is now on 124.08 resistance turned support. Decisive break there will confirm this bearish case and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

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EUR/JPY Weekly Outlook

EUR/JPY dropped to as low as 124.61 last week but formed a short term bottom there and recovered. Initial bias is neutral this week for some more consolidation. In case of another rise, upside should be limited by 128.94 support turned resistance to bring reversal. On the downside, , below 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD and firm break of the medium term channel support. Focus is now on 124.08 resistance turned support. Decisive break there will confirm this bearish case and target 61.8% retracement of 109.03 to 137.49 at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.47; (P) 127.09; (R1) 127.85; More….

EUR/JPY’s recovery from 124.61 is still in progress. While further rise cannot be ruled out, upside should be limited by 128.94 support turned resistance to bring fall resumption. On the downside, below 126.29 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD current downside acceleration, as well as the break of 38.2% retracement of 109.03 to 137.49 at 126.61. Deeper decline should be seen to 61.8% retracement at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.56; (P) 126.45; (R1) 127.91; More….

EUR/JPY’s rebound from 124.61 is still in progress and further rise could be seen. But upside should be limited by 128.94 support turned resistance to bring fall resumption. On the downside, below 126.45 minor support will bring retest of 124.61 first. Break will resume whole fall from 137.49 and target next medium term fibonacci level at 119.90.

In the bigger picture, the case of medium term trend reversal continues to build up. That is rise from 109.03 (2016 low) could have completed at 137.49 already. This is supported by bearish divergence in daily MACD current downside acceleration, as well as the break of 38.2% retracement of 109.03 to 137.49 at 126.61. Deeper decline should be seen to 61.8% retracement at 119.90 and below. This will be the preferred case as long as 128.94 support turned resistance holds.

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