Fri, Aug 12, 2022 @ 21:19 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 136.60; (P) 137.00; (R1) 137.70; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, break of 138.38, and sustained trading above 55 day EMA (now at 138.44) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 136.19; (P) 137.29; (R1) 137.97; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, break of 138.38, and sustained trading above 55 day EMA (now at 138.44) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 137.44; (P) 137.87; (R1) 138.48; More….

Intraday bias in EUR/JPY remains on the upside as rebound from 133.38 is still in progress. Sustained trading above 55 day EMA (now at 138.44) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 137.17; (P) 137.55; (R1) 138.02; More….

EUR/JPY’s rebound from 133.38 is still in progress and intraday bias stays on the upside. Sustained trading above 55 day EMA (now at 138.48) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 136.22; (P) 136.99; (R1) 138.17; More….

Intraday bias in EUR/JPY remains mildly on the upside for the moment. Sustained trading above 55 day EMA (now at 138.48) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Weekly Outlook

EUR/JPY dropped to as low as 133.38 last week, but recovered strongly after drawing support from 134.11 resistance turned support. Initial bias is now on the upside this week. Sustained trading above 55 day EMA (now at 138.52) will suggest that whole correction from 144.26 has completed. Further rally would then be seen back to retest 144.26 high. However, break of 135.63 will turn bias back to the downside for 133.38 low instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

In the long term picture, up trend from 94.11 (2012 low) is seen as in the third leg. Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 55 month EMA (now at 128.86) holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 135.61; (P) 136.27; (R1) 136.88; More….

Intraday bias in EUR/JPY stays mildly on the upside, as rebound from 133.38 would continue higher. Sustained break of 55 day EMA (now at 138.54) will suggest that whole correction from 144.26 has completed. This will now remain the favored case as long as 133.38 support holds.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 135.18; (P) 135.80; (R1) 136.76; More….

EUR/JPY’s break of 135.85 minor resistance suggests short term bottoming at 133.38, after defending 134.11 key support. Intraday bias is back on the upside for 55 day EMA (now at 138.54). Sustained break there will suggest that whole correction from 144.26 has completed. This will now remain the favored case as long as 133.38 support holds.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 134.03; (P) 134.72; (R1) 136.04; More….

EUR/JPY recovers notably after dipping to 133.38, and drawing support from 134.11. Intraday bias is turned neutral first. Firm break of 135.85 will indicate short term bottoming and turn bias back tot he upside for stronger rebound. However, sustained break of 134.11 will carry larger bearish implications and target 161.8% projection of 144.26 to 136.85 from 142.31 at 130.32.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 134.56; (P) 135.46; (R1) 135.91; More….

EUR/JPY’s decline continues today and it’s now pressing 134.11 key support turned resistance. Strong support could be seen from current level to complete the pattern from 144.26 high. Break of 135.85 minor resistance will turn bias back to the upside for stronger rebound. However, sustained break of 134.11 will carry larger bearish implications and target 161.8% projection of 144.26 to 136.85 from 142.31 at 130.32.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 135.43; (P) 136.38; (R1) 137.21; More….

EUR/JPY’s decline continues today and intraday bias stays on the downside for 100% projection of 144.26 to 136.85 from 142.31 at 134.90, and possibly below. Strong support should be seen from 134.11 to complete the correction from 144.26. On the upside, above 137.31 minor resistance will turn intraday bias neutral first. However, sustained break of 134.11 will carry larger bearish implications and target 161.8% projection at 130.32.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Weekly Outlook

EUR/JPY’s fall form 144.26 resumed last week and hit as low as 135.53. Initial bias stays on the downside for 100% projection of 144.26 to 136.85 from 142.31 at 134.90, and possibly below. Strong support should be seen above 134.11 to complete the correction. On the upside, above 137.31 minor resistance will turn intraday bias neutral first.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

In the long term picture, up trend from 94.11 (2012 low) is seen as in the third leg. Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 55 month EMA (now at 128.55) holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 135.73; (P) 137.54; (R1) 138.69; More….

EUR/JPY’s decline continues today and hits as low as 135.53 so far. Intraday bias remains on the downside for deeper fall to 134.11 medium term support next. At this point, price actions from 144.26 are still viewed as a corrective pattern only. Strong support should be seen above 134.11 to complete the correction. On the upside, above 137.31 minor resistance will turn intraday bias neutral first.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.70; (P) 139.10; (R1) 139.77; More….

Intraday bias in EUR/JPY stays mildly on the downside. Current decline from is seen as a falling leg inside the corrective pattern from 144.23. Deeper decline would be seen to 136.85 support. On the upside, above 140.06 minor resistance will turn bias back to the upside for 142.31 resistance instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 137.85; (P) 138.84; (R1) 139.55; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Fall from 142.31 is seen as a falling leg inside the corrective pattern from 144.23. Deeper decline would be seen to 136.85 support. On the upside, above 140.06 minor resistance will turn bias back to the upside for 142.31 resistance instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 138.92; (P) 139.49; (R1) 140.27; More….

EUR/JPY’s fall resumes after brief recovery and intraday bias stays on the downside. Fall from 142.31 is seen as a falling leg inside the corrective pattern from 144.23. Deeper decline would be seen to 136.85 support. On the upside, above 140.06 minor resistance will turn bias back to the upside for 142.31 resistance instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.92; (P) 139.49; (R1) 140.27; More….

Further decline is in favor with 140.68 minor resistance intact. Corrective pattern from 144.23 is extending with another falling leg. Deeper decline would be seen to 136.85 support. On the upside, above 140.68 minor resistance will turn bias back to the upside for 142.31 resistance instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.26; (P) 139.48; (R1) 140.17; More….

Intraday bias in EUR/JPY stays mildly on the downside at this point. Corrective pattern from 144.23 is extending with another falling leg. Deeper decline would be seen to 136.85 support. On the upside, above 140.68 minor resistance will turn bias back to the upside for 142.31 resistance instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

EUR/JPY Weekly Outlook

EUR/JPY rose to 142.31 last week but reversed from there. The development suggests that correction pattern from 144.23 is extending with another falling leg. Initial bias stays mildly on the downside this week for 136.85 support. On the upside, above 140.68 minor resistance will turn bias back to the upside for 142.31 resistance instead.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

In the long term picture, current rally could be resuming whole rise from 94.11 (2012 low). Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 134.11 resistance turned support holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 139.62; (P) 140.97; (R1) 141.80; More….

EUR/JPY’s break of 140.41 minor support argues that rebound from 136.85 has completed. Corrective pattern from 144.23 is still extending, with another falling leg. Intraday bias is back on the downside for 136.85 support first. On the upside, break of 142.31 will resume the rebound to retest 144.26 high.

In the bigger picture, up trend from 114.42 (2020 low) is seen as the third leg of the pattern from 109.30 (2016 low). Further rally is in favor as long as 134.11 resistance turned support holds, even in case of deep pull back. Firm break of 139.78 will target 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.