Mon, Jan 21, 2019 @ 03:16 GMT

EUR/JPY Weekly Outlook

EUR/JPY stayed in tight range below 125.09 last week and initial bias stays neutral this week first. But based on overall development in yen crosses, EUR/JPY’s rebound from 118.62 will likely turn out to be stronger than expected. On the upside, break of 125.09 will bring further rise to 55 day EMA (now at 126.75) and above. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low instead.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is possibly just the second leg of the corrective pattern from 109.03. Break of 133.12 resistance should start the third leg to 137.49 and above. Nevertheless, break of 118.62 will resume the down trend from 137.49 for 109.03/114.84 support zone instead.

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. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 (2012 low) to bring reversal.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.89; (P) 124.28; (R1) 124.83; More….

EUR/JPY is staying in range below 125.09 temporary top. But based on overall development in yen crosses, EUR/JPY’s rebound from 118.62 will likely turn out to be stronger than expected. On the upside, break of 125.09 will bring further rise to 55 day EMA (now at 126.76) and above. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low first.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is possibly just the second leg of the corrective pattern from 109.03. Break of 133.12 resistance should start the third leg to 137.49 and above. Nevertheless, break of 118.62 will resume the down trend for 137.49 for 109.03/114.84 support zone instead.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.73; (P) 124.07; (R1) 124.63; More….

EUR/JPY is staying in tight range below 125.09 and intraday bias remains neutral first. For now, we’d still expect strong resistance around 124.61 to complete the rebound from 118.62 low. Larger decline is expected to resume afterwards. Break of 123.40 will affirm our view and turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will dampen our view and extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.35; (P) 124.10; (R1) 124.82; More….

Intraday bias in EUR/JPY remains neutral at this point, and outlook is unchanged. For now, we’d still expect strong resistance around 124.61 to complete the rebound from 118.62 low. Larger decline is expected to resume afterwards. Break of 123.40 will affirm our view and turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will dampen our view and extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.73; (P) 124.09; (R1) 124.40; More….

EUR/JPY is staying in right range below 125.09 and intraday bias remains neutral first. For now, we’d still expect strong resistance around 124.61 to complete the rebound from 118.62 low. Larger decline is expected to resume afterwards. Break of 123.40 will affirm our view and turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will dampen our view and extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.15; (P) 124.58; (R1) 124.93; More….

EUR/JPY dips notably today and intraday bias stays neutral with focus back on 123.40 minor support. As noted before, we’d expect strong resistance around 124.61 to complete the rebound from 118.62 low. Larger decline is expected to resume afterwards. Break of 123.40 will affirm our view and turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Weekly Outlook

EUR/JPY edged higher to 125.09 last week but failed to sustain above 124.61 resistance, as well as 4 hour 55 EMA. With 4 hour MACD staying below signal line, initial bias remains neutral this week first. We’d still expect upside to be limited around 124.61 resistance to complete the rebound from 118.62. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 (2012 low) to bring reversal.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.36; (P) 124.71; (R1) 125.07; More….

Intraday bias in EUR/JPY is turned neutral with 4 hour MACD crossed below signal line. At this point, we’re still looking for strong resistance around 124.61 to limit the rebound from 118.62. And, on the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.36; (P) 124.72; (R1) 125.19; More….

No change in EUR/JPY’s outlook. At this point, we’re still looking for strong resistance around 124.61 to limit the rebound from 118.62. And, on the downside, break of 122.84 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.06; (P) 124.46; (R1) 124.81; More….

At this point, we’re still looking at strong resistance around 124.61 to limit the rebound from 118.62. And, on the downside, On the downside, break of 122.84 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.83; (P) 123.35; (R1) 124.18; More….

Intraday bias in EUR/JPY remains mildly on the upside as rebound from 118.62 is extending. Strong resistance should be see around 124.61 key resistance to limit upside. On the downside, break of 121.80 minor support will turn bias back to the downside for retesting 118.62 low first. Overall, larger down trend is expected to resume later after the consolidation completes.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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EUR/JPY Weekly Outlook

EUR/JPY spiked lower to 118.62 last week but recovered strongly since then. A short term bottom should be in place based on the strength of the rebound. Initial bias is mildly on the upside this week for further rise. On the downside, break of 121.80 minor support will turn bias back to the downside for retesting 118.62 low first. Overall, larger down trend is expected to resume later after the consolidation completes.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

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. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 (2012 low) to bring reversal.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.82; (P) 121.75; (R1) 124.59; More….

Intraday bias in EUR/JPY stays neutral for some consolidations first. But near term outlook remains bearish with 123.87 resistance intact. On the downside, below 121.28 minor support will turn bias back to the downside for 118.62 first. Break will extend the larger down trend to next projection level at 112.28. Nevertheless, on the upside, touching of 123.87 will indicate short term bottoming and bring lengthier consolidation before staging another fall.

In the bigger picture, the strong break of 124.08 key support suggests that medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.74; (P) 124.31; (R1) 125.12; More….

EUR/JPY dived to as low as 118.62 as down trend extended. Some consolidations could likely be seen after climax selling. But in any case, near term outlook will remain bearish 123.87 minor resistance holds. Another fall is still expected to revisit 119.90 fibonacci level first. Firm break there will target next projection level at 112.28. On the upside, touching of 123.87 will indicate short term bottoming and bring lengthier consolidation before staging another fall.

In the bigger picture, the strong break of 124.08 key support suggests that medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds.

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EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 125.24; (P) 126.15; (R1) 126.74; More….

EUR/JPY dives to as low as 123.88 so far today and is now pressing 124.08 key support. Intraday bias remains on the downside. Decisive break of 124.08 will carry larger bearish implication and target 119.90 fibonacci level next. On the upside, break of 125.52 support turned resistance is needed to signal short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn support. Decisive break of 124.08 will argue that rise from 109.03 (2016 low) has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90. Meanwhile, strong rebound from 124.08, followed by break of 129.25 resistance will retain medium term bullishness. Rise could 109.03 could still extend through 137.49 resistance in that case.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.24; (P) 126.15; (R1) 126.74; More….

EUR/JPY’s fall resumed by taking out 125.52 and reaches as low as 125.16 so far. Intraday bias is back on the downside. Current decline from 133.12 should target 124.08/89 support zone next. On the upside, break of 127.09 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain bearish even in case of recovery.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. Decisive break of 124.08 will argue that such rise from 109.03 (2016 low) has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90. Meanwhile, strong rebound from 124.08, followed by break of 129.25 resistance will retain medium term bullishness. Rise could 109.03 could still extend through 137.49 resistance in that case.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.24; (P) 126.67; (R1) 127.36; More….

EUR/JPY’s recovery from 125.52 extends higher but as it’s seen as a correction, intraday bias remains neutral first. Near term outlook will also say bearish as long as 127.63 resistance holds. On the downside, below 125.52 will target 124.08/89 support zone next.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.87; (P) 126.17; (R1) 126.73; More….

A temporary low is in place at 125.52 in EUR/JPY with the current recovery. Intraday bias is turned neutral for consolidation first. But near term outlook will remain bearish as long as 127.63 resistance holds. On the downside, below 125.52 will target 124.08/89 support zone next.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.32; (P) 125.71; (R1) 126.06; More….

EUR/JPY’s decline is in progress and reaches as low as 125.52 so far. Intraday bias remains on the downside at this point. Current fall from 133.12 should target 124.08/89 support zone next. On the upside, break of 126.74 minor resistance will turn intraday bias neutral and bring consolidations first.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

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EUR/JPY Weekly Outlook

EUR/JPY’s steep decline and strong break of 126.63 support last week indicates resumption of fall from 133.12. Intraday bias remains on the downside for the moment. Current fall should target 124.08/89 support zone next. On the upside, break of 127.68 minor resistance is needed to be the first sign of short term bottoming. otherwise, outlook will remain bearish even in case of recovery.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

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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