Thu, Sep 20, 2018 @ 16:21 GMT

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 130.69; (P) 131.19; (R1) 131.58; More….

EUR/JPY’s rally continues today and reaches as high as 132.15, breaking 131.97 resistance. Intraday bias stays on the upside for key fibonacci resistance at 132.56. sustained break there should pave the way to retest 137.49 high. On the downside, below 130.89 minor support will turn intraday bias neutral first. But near term outlook will stay cautiously bullish as long as channel support holds (now at 129.42).

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.69; (P) 131.19; (R1) 131.58; More….

EUR/JPY is losing some upside momentum as seen in 4 hour MACD. But with 130.09 minor support intact, further rise is expected to 131.97 resistance and then key fibonacci resistance at 132.56. On the downside, break of 130.09 minor support will bring deeper pull back. But outlook stays cautiously bullish as long as 127.85 support holds.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.42; (P) 130.96; (R1) 131.63; More….

Intraday bias in EUR/JPY remains on the upside. Current rise from 124.89 should target 131.97 resistance and then key fibonacci resistance at 132.56. On the downside, break of 130.09 minor support will turn intraday bias neutral again. But outlook stays cautiously bullish as long as 127.85 support holds.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.17; (P) 130.61; (R1) 131.13; More….

EUR/JPY’s break of 131.10 suggests resumption of rise from 124.89. Intraday bias is turned back to the upside for 131.97 resistance and then key fibonacci resistance at 132.56. On the downside, break of 130.09 minor support will turn intraday bias neutral again. But outlook stays cautiously bullish as long as 127.85 support holds.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.92; (P) 130.53; (R1) 130.87; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 131.30 temporary top. Further rise is expected as long as 129.43 minors support holds. On the upside, break of 131.10 will resume the rebound from 124.89 to 131.97 resistance and then key fibonacci resistance at 132.56.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Weekly Outlook

EUR/JPY edged higher to 131.10 last week but formed a temporary top there and retreated. Initial bias is neutral this week first. As 130.86 resistance was breached, rise from 124.89 should have resumed. Above 131.10 will target 131.97 resistance and then key fibonacci resistance at 132.56. On the downside, break of 129.43 is needed to be the first signal of short term topping. Otherwise, outlook will now remain cautiously bullish even in case of retreat.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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) 129.72; (P) 130.34; (R1) 131.47; More….

EUR/JPY;’s break of 130.86 resistance confirmed resumption of rise from 124.89. Intraday bias remains on the upside for 131.97 resistance and then key fibonacci resistance at 132.56. On the downside, break of 129.43 is needed to be the first signal of short term topping. Otherwise, outlook will now remain cautiously bullish even in case of retreat.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 128.92; (P) 129.36; (R1) 129.80; More….

EUR/JPY’s break of 129.97 minor resistance confirms that pull back from 130.86 has completed at 127.85 already. Intraday bias turned back to the upside for 130.86. Break will resume the rise from 124.89 and target key fibonacci resistance at 132.56. On the downside, below 129.43 minor support will dampen this bullish case and turn intraday bias neutral first.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.92; (P) 129.36; (R1) 129.80; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside break of 129.97 minor resistance will affirm the case that rise from 124.89 is still in progress. Retest of 130.86 should then be seen first. Break will target key fibonacci resistance at 132.56. On the downside, though, break of 127.85 will extend the fall from 130.86 instead.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.90; (P) 129.36; (R1) 129.96; More….

Intraday bias in EUR/JPY remains neutral at this point. On the upside break of 129.97 minor resistance will affirm the case that rise from 124.89 is not completed. Retest of 130.86 should then be seen first. Break will target key fibonacci resistance at 132.56. On the downside, though, break of 127.85 will extend the fall from 130.86 instead.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.11; (P) 128.59; (R1) 129.32; More….

EUR/JPY’s strong rebound from 127.85 argues that fall from 130.86 might be completed. And, the three wave corrective structure in turn suggests that rise from 124.89 is still in progress. On the upside, break of 129.97 will target 130.86 first. Break will confirm this bullish case and target key fibonacci resistance at 132.56. On the downside, though, break of 127.85 will extend the fall from 130.86 instead.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 127.88; (P) 128.49; (R1) 128.96; More….

Intraday bias in EUR/JPY remains on the downside for 61.8% retracement of 124.89 to 130.86 at 127.17. The rebound from 124.89 might be completed at 130.86 already. Break of 127.17 will target a test on key support zone at 124.61/89. On the upside, though, break of 129.97 resistance will likely resume the rebound from 124.89 through 130.86.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Weekly Outlook

EUR/JPY’s decline from 130.86 extended last week and the development suggests that rebound form 124.89 might be completed. Initial bias stays mildly on the downside this week for 61.8% retracement of 124.89 to 130.86 at 127.17. Break will target a test on key support zone at 124.61/89. On the upside, though, break of 129.97 resistance will likely resume the rebound from 124,89 through 130.86.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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) 128.20; (P) 129.02; (R1) 129.54; More….

Despite breaching 128.31, EUR/JPY quickly recovered again. Intraday bias remains neutral. On the upside, break of 130.86 will extend the rise from 124.89 and target 131.97/132.56 key resistance zone. On the downside however, break of 128.31 will extend the fall from 130.86 to 61.8% retracement of 124.89 to 130.86 at 127.17 and below.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.88; (P) 129.43; (R1) 130.27; More….

EUR/JPY lacks a clear direction for the moment as it dipped to 128.31 but then quickly recovered with weak upside momentum. Intraday bias stays neutral first. On the upside, break of 130.86 will extend the rise from 124.89 and target 131.97/132.56 key resistance zone. on the downside however, break of 128.31 will extend the fall from 130.86 to 61.8% retracement of 124.89 to 130.86 at 127.17 and below.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.56; (P) 128.88; (R1) 129.45; More….

EUR/JPY breached 38.2% retracement of 124.89 to 130.86 at 128.57 but quickly recovered. Intraday bias stays neutral first. On the downside, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61/89. On the upside, above 129.83 minor resistance will retain near term bullishness. And intraday bias will be turned back to the upside for 130.86 and above.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.70; (P) 128.93; (R1) 129.28; More….

Intraday bias in EUR/JPY stays neutral with focus on 38.2% retracement of 124.89 to 130.86 at 128.57. As long as 128.57 holds, another rise is still mildly in favor. On the upside, above 129.83 minor resistance will turn bias back to the upside for 130.86 first and then resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. However, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61/89.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 128.39; (P) 129.11; (R1) 129.67; More….

Focus in EUR/JPY remains on 38.2% retracement of 124.89 to 130.86 at 128.57. As long as 128.57 holds, another rise is still mildly in favor. On the upside, above 129.83 minor resistance will turn bias back to the upside for 130.86 first and then resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. However, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61/89.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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EUR/JPY Weekly Outlook

EUR/JPY rose further to 130.86 last week but formed a top there and retreated sharply. As long as 38.2% retracement of 124.89 to 130.86 at 128.57 holds, another rise is mildly in favor. Above 129.83 minor resistance will turn bias back to the upside for 130.86 first and then resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. However, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61/89..

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held well above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might not be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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) 128.98; (P) 129.97; (R1) 130.51; More….

EUR/JPY’s break of 129.56 minor support suggests temporary toping at 130.86. Intraday bias is turned neutral first. As long as 38.2% retracement of 124.89 to 130.86 at 128.57 holds, another rise is mildly in favor. Above 130.86 will target resistance zone between 131.97 and 61.8% retracement of 137.49 to 124.61 at 132.56. Break will indicate larger bullish reversal. However, firm break of 128.57 will argue that rebound from 124.89 has completed, and it’s the third leg of consolidation pattern from 124.61. In that case, intraday bias will be turned back to the downside for 124.61 low.

In the bigger picture, EUR/JPY once again rebounded ahead of 124.08 key resistance turned support. It’s also held above long term trend line from 109.03 (2016 low). The development argues that such rise from 109.03 might now be over yet. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. But, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.

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