Thu, Oct 06, 2022 @ 10:24 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 142.27; (P) 143.18; (R1) 143.92; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, firm break of 145.62 resistance will resume larger up trend. However, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 142.61; (P) 143.34; (R1) 144.70; More….

Intraday bias in EUR/JPY remains mildly on the upside. Rise from 137.32 should target retesting 145.62 high. Firm break there will resume larger up trend. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.45; (P) 141.95; (R1) 142.54; More….

EUR/JPY’s break of 142.28 resistance confirms that pull back from 145.62 has completed at 137.32. Intraday bias is back on the upside for retesting 145.62. Firm break there will resume larger up trend. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.03; (P) 141.66; (R1) 142.53; More….

Intraday bias in EUR/JPY stays neutral first, with focus on 142.28 resistance. Firm break there will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 140.38 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Weekly Outlook

EUR/JPY rebounded strongly after dipping to 137.32 last week, but stays below 142.28 resistance. Initial bias remains neutral this week first. On the upside, break of 142.28 will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 139.40 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.16; (P) 140.94; (R1) 142.46; More….

EUR/JPY’s rebound from 137.32 extends higher and focus is immediately on 142.29 resistance. Firm break there will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 139.40 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8774; (P) 0.8877; (R1) 0.8934; More…

EUR/GBP’s pull back from 0.9267 extends lower but stays above 0.8720 resistance turned support. Intraday bias remains neutral first. On the upside, above 0.9065 will turn bias back to the upside for 0.9267. Firm break there will resume larger rally to 0.9499 long term resistance. However, break of 0.8270 support will mix up the near term outlook.

In the bigger picture, rise from 0.8201 is in progress targeting 0.9499 (2020 high) next. Based on current momentum, such rally should be resuming the up trend from 0.6935 (2015 low). Firm break of 0.9499 will target 61.8% projection of 0.6935 to 0.9499 from 0.8201 at 0.9786, which is close to 0.9799 (2008 high). This will now remain the favored case as long as 0.8720 resistance turned support holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.78; (P) 139.59; (R1) 141.12; More….

EUR/JPY’s consolidation from 1 37.32 is still in progress and intraday bias stays neutral. On the downside, break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, break of 142.28 will turn bias back to the upside for retesting 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.52; (P) 139.03; (R1) 139.45; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, break of 142.28 will turn bias back to the upside for retesting 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 137.79; (P) 138.65; (R1) 139.91; More….

Intraday bias in EUR/JPY stays neutral first, as it lost momentum after hitting 137.32. On the downside, break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, break of 142.28 will turn bias back to the upside for retesting 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.28; (P) 139.28; (R1) 139.88; More….

EUR/JPY’s fall from 145.62 extended lower today. Break of 138.38 support raises the chance of larger reversal. Intraday bias stays on the downside for 133.38 support next. On the upside, above 140.25 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Weekly Outlook

EUR/JPY’s decline from 145.62 accelerated lower last week. Initial bias is mildly on the downside this week with focus on 138.38 support turned resistance. Firm break there will raise the chance of larger reversal and target 133.38 support next. On the upside, break of 142.28 will revive near term bullishness and bring retest of 145.62 high instead.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.30) holds, up trend 109.03 should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 137.93; (P) 140.82; (R1) 142.91; More….

Focus stays on 138.38 resistance turned support in EUR/JPY. Decisive break there will be an early indication of larger bearish reversal. Deeper fall would be seen to 133.38 support next. On the upside, above 142.28 minor resistance will turn bias back to the upside for retesting 145.62 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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 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) 141.07; (P) 142.33; (R1) 143.02; More….

EUR/JPY’s decline from 145.62 accelerates lower today but stays above 138.38 support turned resistance. Intraday bias stays neutral first. Larger up trend is still in favor to continue through 145.62 at a later stage. However, firm break of 138.38 will be an early indication of reversal, and target 135.50 support next.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 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) 142.89; (P) 143.46; (R1) 143.91; More….

EUR/JPY dips notably as correction from 145.62 extends. Intraday bias stays neutral at this point. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 at 153.27.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 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) 143.03; (P) 143.32; (R1) 143.85; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 145.62 extends. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 at 153.27.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 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) 142.61; (P) 143.07; (R1)143.63; More….

EUR/JPY is staying in consolidation from 145.62 and intraday bias remains neutral. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 at 153.27.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 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 up trend continued to 145.62 last week, just inch below 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67. But the cross then turned into consolidations, and initial bias is neutral this week first. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.67 will pave the way to 149.76 long term resistance, and then 100% projection at 153.27.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 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 129.46) holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 142.78; (P) 143.23; (R1)143.89; More….

Intraday bias in EUR/JPY is staying neutral as consolidation from 145.62 is extending. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67 will pave the way to 149.76 long term resistance, and then 100% projection at 153.27.

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). Next target is 149.76 (2015 high). For now, outlook will remain bullish as long as 133.38 support holds, even in case of deep pull back.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.95; (P) 143.21; (R1) 144.13; More….

EUR/JPY is staying in consolidation from 145.62 and intraday bias remains neutral first. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67 will pave the way to 149.76 long term resistance, and then 100% projection at 153.27.

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). Next target is 149.76 (2015 high). For now, outlook will remain bullish as long as 133.38 support holds, even in case of deep pull back.