EUR/JPY’s decline form 133.12 extended to as low as 128.32 last week but recovered. Initial bias is neutral this week first. Another fall is in favor as long as 130.29 minor resistance holds. Below 128.32 will target 127.85 support first. Break will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. However, considering bullish convergence condition in 4 hour MACD, break of 130.29 will in turn suggest completion of fall from 133.12. In this case, intraday bias will be turned back to the upside for retesting 133.12 high.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.85 will turn focus back to 124.08 key support level.

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.

Daily Pivots: (S1) 127.93; (P) 128.84; (R1) 129.36; More….

EUR/JPY’s fall from 133.12 resumed by taking out 129.11 temporary low. Intraday bias is back on the downside for 127.85 support first. Decisive break there will confirm completion of rebound from 124.89 at 133.12. In that case, deeper decline would be seen back to 124.61.89 support zone. On the upside, break of 130.29 resistance is needed to indicate completion of the fall. Otherwise, near term outlook will stay mildly bearish in case of recovery.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.85 will turn focus back to 124.08 key support level.

Daily Pivots: (S1) 129.10; (P) 129.63; (R1) 130.10; More….

EUR/JPY is staying in consolidation above 129.11 and intraday bias remains neutral first. Near term outlook stays bearish with 130.70 resistance intact and further fall is expected. On the downside, break of 129.11 will target 127.85 support first. Break there will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.70 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.895 will turn focus back to 124.08 key support level.

Daily Pivots: (S1) 129.39; (P) 129.85; (R1) 130.37; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 129.11. Further decline remains in favor as long as 130.70 resistance holds. Below 129.11 will target 127.85 support first. Break there will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.70 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.895 will turn focus back to 124.08 key support level.

Daily Pivots: (S1) 129.06; (P) 129.48; (R1) 129.85; More….

EUR/JPY recovers quickly after hitting 129.11 and intraday bias is turned neutral first. Further decline remains in favor as long as 130.70 resistance holds. Below 129.11 will target 127.85 support first. Break there will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.70 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.895 will turn focus back to 124.08 key support level.

Daily Pivots: (S1) 129.22; (P) 129.87; (R1) 130.38; More….

Intraday bias in EUR/JPY remains neutral at this point and deeper fall is in favor. On the downside, break of 129.20 will extend the fall from 133.12 to 127.85 support first. Break there will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.70 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.895 will turn focus back to 124.08 key support level.

EUR/JPY dropped further to 129.20 last week but formed temporary low there. Initial bias is neutral this week first. Deeper decline is expected as long as 130.70 minor resistance holds. Below 129.20 will target 127.85 support first. Break there will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.70 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.895 will turn focus back to 124.08 key support level.

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.

Daily Pivots: (S1) 129.43; (P) 129.82; (R1) 130.43; More….

No change in EUR/JPY’s outlook as 130.49 minor resistance remains intact. Further fall is expected in the cross. Decline fro 1132.12 will target 127.85 support first. Break there will pave the way to retest 124.89. On the upside, though, above 130.49 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 128.90; (P) 129.70; (R1) 130.11; More….

EUR/JPY continues to lose downside momentum as seen in 4 hour MACD. But with 130.49 minor resistance intact, further fall is still expected. Decline from 133.12 should target 127.85 support first. Break there will pave the way to retest 124.89. On the upside, though, above 130.49 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 129.36; (P) 129.79; (R1) 130.25; More….

EUR/JPY lost some downside momentum as seen in 4 hour MACD. But with 131.23 minor resistance intact, further fall is still expected. Decline from 133.12 should target 127.85 support first. Break there will pave the way to retest 124.89. On the upside, though, above 131.23 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 129.34; (P) 130.29; (R1) 131.09; More….

Intraday bias in EUR/JPY remains on the downside at this point. Current fall from 133.12 would target 127.85 support first. Prior rise fro 124.89 could have completed at 133.12 already. Break of 127.85 will pave the way to retest 124.89. On the upside, though, above 131.23 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 130.61; (P) 131.01; (R1) 131.43; More….

EUR/JPY’s decline from 133.12 extends further today and reaches as low as 129.61 so far. The break of 55 day EMA affirms the view that rise from 124.89 has completed. Intraday bias stays on the downside for 127.85 support first. Break will target 124.89 again. On the upside, though, above 131.23 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 130.61; (P) 131.01; (R1) 131.43; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. The rise from 124.89 might have completed at 133.12 already. Deeper decline would now be seen to 55 day EMA (now at 130.17). Break will target 127.85 support and below. On the upside, break of 131.95 minor resistance will turn bias back to the upside for 133.12 resistance instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

EUR/JPY gyrated lower last week and the breach of 130.86 resistance turned support argues that rise from 124.89 might be over. Initial bias is mildly on the downside this week for 55 day EMA (now at 130.17). Break will bring deeper fall to 127.85 support and below. On the upside, break of 131.95 minor resistance will turn bias back to the upside for 133.12 resistance instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support 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.

Daily Pivots: (S1) 130.76; (P) 131.18; (R1) 131.62; More….

Intraday bias in EUR/JPY remains neutral with focus on 130.86 resistance turned support. On the upside, break of 133.12 will resume the rise from 124.89 and target 137.49 high. However, firm break of 130.86 will argue that whole rise from 124.89 has completed. Deeper fall should then be seen back towards 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 130.97; (P) 131.47; (R1) 131.99; More….

AT this point, EUR/JPY is holding above 130.86 resistance turned support and intraday bias remains neutral. On the upside, break of 133.12 will resume the rise from 124.89 and target 137.49 high. However, firm break of 130.86 will argue that whole rise from 124.89 has completed. Deeper fall should then be seen back towards 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 130.64; (P) 131.33; (R1) 131.94; More….

Despite breaching 130.86 resistance turned support, EUR/JPY quickly recovered. Intraday bias remains neutral and further rally is still in favor. On the upside, break of 133.12 will target 137.49 high. However, firm break of 130.86 will argue that whole rise from 124.89 has completed. Deeper fall should then be seen back towards 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 131.66; (P) 132.06; (R1) 132.39; More….

EUR/JPY drops sharply today but stays above 130.86 resistance turned support so far. Intraday bias remains neutral and another rise is still in favor. Break of 133.12 will target 137.49 high. However, break of 130.86 will argue that whole rise from 124.89 has completed. Deeper fall should then be seen back towards 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Daily Pivots: (S1) 131.49; (P) 132.09; (R1) 132.61; More….

Intraday bias in EUR/JPY remains neutral at this point. With 130.86 resistance turned support intact, near term outlook stays bullish and further rally is in favor. On the upside, above 133.12 will target 100% projection of 124.89 to 130.86 from 127.85 at 133.82 first. Break will target 137.49 high. However, firm break of 130.86 will turn focus back to 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

EUR/JPY’s consolidation from 133.12 continued last week but downside was contained above 130.86 resistance turned support so far. Initial bias stays neutral this week first, and further rise remains in favor. On the upside, above 133.12 will target 100% projection of 124.89 to 130.86 from 127.85 at 133.82 first. Break will target 137.49 high. However, firm break of 130.86 will turn focus back to 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support 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.