Tue, Aug 04, 2020 @ 10:59 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.96; (P) 124.58; (R1) 125.33; More….

Intraday bias in EUR/JPY stays on the upside for 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. Break will pave the way to 100% projection at 129.32. On the downside, break of 123.01 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 121.32) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Weekly Outlook

EUR/JPY rose to as high as 125.02 last week and broke 124.43 resistance as rose from 114.42 finally resumed. Initial bias stays on the upside this week for 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. Break will pave the way to 100% projection at 129.32. On the downside, break of 123.01 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 121.32) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Sustained break of 55 month EMA (now at 124.54) should confirm the start of another medium term rising leg.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.55; (P) 123.88; (R1) 124.41; More….

Intraday bias in EUR/JPY remains neutral first and further rise is expected. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.80) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.25; (P) 123.52; (R1) 124.02; More….

EUR/JPY recovers after drawing support from 4 hour 55 EMA but stays below 124.29/43 resistance zone. Intraday bias remains neutral first. Overall, further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.80) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.77; (P) 123.38; (R1) 123.74; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral first. Further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.80) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.40; (P) 123.65; (R1) 124.09; More….

Intraday bias in EUR/JPY remains neutral at this point. Further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.80) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.04; (P) 123.50; (R1) 124.17; More….

Intraday bias in EUR/JPY remains neutral for the moment. Further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.80) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Weekly Outlook

EUR/JPY surged to as high as 124.29 last week but failed to break through 124.43 resistance and retreated. Initial bias is neutral this week first. Further rally will remain in favor as long as 121.96 support holds. On the upside, firm break of 124.43 will resume the rise from 114.42 to 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, however, break of 121.96 will turn bias to the downside for 119.31 support instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.80) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Sustained break of 55 month EMA (now at 124.50) should confirm the start of another medium term rising leg.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.68; (P) 123.96; (R1) 124.21; More….

EUR/JPY retreated sharply ahead of 124.43 resistance and intraday bias is turned neutral first. Further rise is still expected as long as 121.96 resistance turned support holds. On the upside, sustained break of 124.43 will resume whole rally from 114.42 bottom. Next target will be 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. However, break of 121.96 will turn bias back to the downside for 120.27 support and below.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.35) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.27; (P) 123.78; (R1) 124.50; More….

Intraday bias in EUR/JPY remains on the upside for 124.43 resistance. Decisive break there will resume whole rally from 114.42 bottom. Next target will be 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, break of 121.96 resistance turned support is needed to indicate completion of the rise. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.35) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.65; (P) 122.91; (R1) 123.35; More….

Intraday bias in EUR/JPY remain son the upside at this point. Current rise from 119.31 should target a test on 124.43 high. Decisive break there will resume whole rally from 114.42 bottom. On the downside, break of 121.81 support would turn bias back to the downside for 120.27 support. Break there should start the third leg of the corrective pattern from 124.43 to 119.31 support, and probably further to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.35) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.39; (P) 122.68; (R1) 123.12; More….

EUR/JPY’s rebound from 119.31 is still in progress. Intraday bias remains on the upside for retesting 124.43 high. Decisive break there will resume whole rally from 114.42 bottom. On the downside, break of 121.81 support would turn bias back to the downside for 120.27 support. Break there should start the third leg of the corrective pattern from 124.43 to 119.31 support, and probably further to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.35) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.97; (P) 122.27; (R1) 122.62; More….

Intraday bias in EUR/JPY remains on the upside as choppy rebound from 119.31 is extending. Further rise should be seen to retest 124.43 high. Decisive break there will resume whole rally from 114.42 bottom. on the downside, break of 121.81 support would turn bias back to the downside for 120.27 support. Break there should start the third leg of the corrective pattern from 124.43 to 119.31 support, and probably further to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.35) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Weekly Outlook

EUR/JPY’s choppy rebound from 119.31 resumed last week by taking out 121.96 resistance. Further rise is expected this week for 124.43 high. Based on current momentum, we don’t expect a break there on first attempt. On the downside, break of 120.27 support should start the third leg of the corrective pattern from 124.43 to 119.31 support, and probably further to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 120.26) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Sustained break of 55 month EMA (now at 124.45) should confirm the start of another medium term rising leg.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.79; (P) 122.15; (R1) 122.47; More….

Further rise is expected in EUR/JPY with 120.27 support intact, despite loss of upside momentum. Choppy rebound form 119.31 is still in favor to continue towards 124.43 high. On the downside, break of 120.27 will turn bias to the downside for 119.31. Break will resume the decline from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.90) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.75; (P) 122.12; (R1) 122.42; More….

EUR/JPY is losing some upside momentum as seen in 4 hour MACD. But with 120.27 minor support intact, choppy rebound from 119.31 is still in favor to continue towards 124.43 high. On the downside, break of 120.27 will turn bias to the downside for 119.31. Break will resume the decline from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.90) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.69; (P) 122.01; (R1) 122.54; More….

Intraday bias in EUR/JPY remains on the upside. Choppy rebound from 119.31 is still in progress for retest 124.43 high. On the downside, break of 120.27 will turn bias to the downside for 119.31. Break will resume the decline from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.90) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 121.00; (P) 121.49; (R1) 122.17; More….

EUR/JPY’s break of 121.96 suggests resumption of the recovery from 119.31. Intraday bias is turned back to the upside for retesting 124.43 high next. On the downside, break of 120.27 will turn bias to the downside for 119.31. Break will resume the decline from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.90) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.00; (P) 121.49; (R1) 122.17; More….

Intraday bias in EUR/JPY remains neutral first. On the upside, break of 121.96 will resume the choppy rebound from 119.31 to retest 124.43 high. On the downside, break of 120.27 will turn bias to the downside for 119.31. Break will resume the decline from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.90) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.36; (P) 120.71; (R1) 121.15; More….

Intraday bias in EUR/JPY is turned neutral with today’s recovery. Outlook is unchanged that fall from 124.43 hasn’t finished. On the downside, break of 119.31 will resume such decline and target 61.8% retracement of 114.42 to 124.43 at 118.24. On the upside, however, break of 122.11 will argue that fall from 124.43 has completed. Stronger rise would be seen to retest 124.43.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.90) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

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