Fri, Sep 20, 2019 @ 14:14 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 118.95; (P) 119.31; (R1) 119.66; More….

EUR/JPY is staying in tight range below 120.01 and intraday bias remains neutral first. With 117.55 minor support intact, further rise is in favor. Break of 120.10 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.41; (P) 119.61; (R1) 119.82; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 120.01 is extending. Further rise remains in favor with 117.55 support intact. Break of 120.10 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.13; (P) 119.45; (R1) 120.03; More….

EUR/JPY is staying in consolidation from 120.01 and intraday bias remains neutral. With 117.55 minor support intact, further rise is in favor. Break of 120.10 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 118.63; (P) 119.07; (R1) 119.45; More….

Intraday bias in EUR/JPY remains neutral for the moment. . Further rise is still in favor as long as 117.55 minor support holds. Above 120.01 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.48; (P) 119.75; (R1) 119.95; More….

Intraday bias in EUR/JPY is turned neutral with today’s retreat and some consolidations could be seen below 120.01 temporary top. Further rise is still in favor as long as 117.55 minor support holds. Above 120.01 will target 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

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EUR/JPY Weekly Outlook

EUR/JPY’s rebound from 115.86 short term bottom extended higher last week and initial bias remains on the upside. Next target is 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

 

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Fall from 137.49 is seen as a falling leg inside the pattern. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 118.17; (P) 118.99; (R1) 120.44; More….

EUR/JPY’s rebound from 115.86 resumed after brief volatility. Intraday bias is back on the upside for 61.8% retracement of 123.35 to 115.86 at 120.48 next. Sustained break will target 123.35 key resistance. On the downside, break of 117.55 will turn bias back to the downside for retesting 115.86.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 118.30; (P) 118.74; (R1) 119.17; More….

With 117.73 minor support intact, EUR/JPY’s rebound from 115.86 is still in progress for 61.8% retracement of 123.35 to 115.86 at 120.48 next. On the downside, break of 117.73 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 118.41; (P) 118.60; (R1) 118.92; More….

EUR/JPY’s rebound from 115.86 is still in progress. Intraday bias stays on the upside for 61.8% retracement of 123.35 to 115.86 at 120.48 next. On the downside, break of 117.73 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 117.96; (P) 118.23; (R1) 118.73; More….

Intraday bias in EUR/JPY remains on the upside at this point as rebound from 115.86 is in progress. Sustained break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 117.73 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 117.70; (P) 117.99; (R1) 118.15; More….

.With 117.28 minor support intact, EUR/JPY’s rebound from 115.86 short term bottom could extend higher. Break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 11.7.28 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Weekly Outlook

EUR/JPY edged lower to 115.86 last week but recovered strongly since then. A short term bottom should be formed on bullish convergence condition in 4 hour MACD. Further rise is expected this week as long as 117.28 minor support holds. Break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 11.7.28 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 120.78 support turned resistance is needed to be the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Fall from 137.49 is seen as a falling leg inside the pattern. Break of 118.62 should now extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 117.32; (P) 117.96; (R1) 118.65; More….

Intraday bias in EUR/JPY remains on the upside as rebound from 115.86 is still in progress. Break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 11.7.28 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 116.56; (P) 117.00; (R1) 117.87; More….

EUR/JPY’s break of 117.91 resistance indicates short term bottoming at 115.86, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside. Break of 38.2% retracement of 123.35 to 115.86 at 118.72 will pave the way to 61.8% retracement at 120.48. On the downside, break of 11.7.28 minor support will turn bias back to the downside for retesting 115.86 instead.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 116.56; (P) 117.00; (R1) 117.87; More….

EUR/JPY’s recovery from 115.86 extends higher today but stays below 117.91 resistance. Intraday bias remains neutral and further decline is still expected. On the downside, break of 115.86 will resumed recent down trend to 114.84 medium term support next. However, firm break of 117.91 will indicate short term bottoming. Stronger rebound would be seen to 55 day EMA (now at 119.47) and above.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 115.91; (P) 116.24; (R1) 116.61; More….

A temporary low is formed at 115.86 in EUR/JPY with current recovery. Intraday bias is turned neutral for consolidations first. But near term outlook remains bearish as long as 117.91 resistance holds. On the downside, break of 115.86 will resumed recent down trend to 114.84 medium term support next. However, firm break of 117.91 will indicate short term bottoming. Stronger rebound would be seen to 55 day EMA (now at 119.47) and above.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 116.30; (P) 116.55; (R1) 116.76; More….

Intraday bias in EUR/JPY remains on the downside. Current decline should target 114.84 medium term support next. On the upside, break of 117.91 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 116.35; (P) 117.09; (R1) 117.54; More….

EUR/JPY’s decline resumed by taking 116.56 and intraday bias back on the downside. Current fall should target 114.84 medium term support next. On the upside, break of 117.91 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Weekly Outlook

EUR/JPY dived to as low as 116.56 last week but turned sideway since then. Initial bias remains neutral this week for some more consolidations first. In case of another recovery, upside should be limited by 119.58 resistance to bring fall resumption. On the downside, break of 116.56 will resume larger down trend to 114.84 medium term support next.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Fall from 137.49 is seen as a falling leg inside the pattern. Break of 118.62 should now extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 117.39; (P) 117.66; (R1) 118.05; More….

EUR/JPY is staying in consolidation from 116.56 and intraday bias remains neutral first. In case of stronger recovery, upside should be limited by 119.58 resistance to bring fall resumption. On the downside, break of 116.56 will resume larger down trend to 114.84 medium term support next. Though, break of 119.58 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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