Mon, May 20, 2019 @ 02:36 GMT

EUR/JPY Weekly Outlook

EUR/JPY edged lower to 122.08 last week as fall from 127.50 extended. But as a temporary was formed, initial bias is neutral for some consolidations first. Upside of recovery should be limited by 124.09 support turned resistance to bring fall resumption. On the downside, break of 122.08 will target a test on 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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 will extend this falling leg through 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.51; (P) 122.74; (R1) 122.95; More….

A temporary low is in place at 122.08 in EUR/JPY and intraday bias is turned neutral for consolidations. Upside of recovery should be limited by 124.09 support turned resistance to bring fall resumption On the downside, break of 122.08 will extend the decline from 127.05 to retest 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.19; (P) 122.64; (R1) 123.21; More….

Intraday bias in EUR/JPY remains on the downside for the moment. Current fall from 127.50 is in progress and should extend to retest 118.62 low. On the upside, break of 123.61 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 122.48; (P) 122.95; (R1) 123.32; More….

EUR/JPY’s decline resumed after brief consolidation and reaches as low as 122.08 so far. Intraday bias is back on the downside. Current fall from 127.50 should extend to retest 118.62 low. On the upside, break of 123.61 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.48; (P) 122.95; (R1) 123.32; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 122.48 temporary low. In case of stronger recovery, upside should be limited by 124.09/125.29 resistance zone to bring fall resumption. Current development suggests that rebound from 118.62 has completed at 127.50 already. On the downside, break of 122.48 will target retest of 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.34; (P) 122.91; (R1) 123.27; More….

EUR/JPY is staying in consolidation from 122.48 temporary low and intraday bias remains neutral first. In case of stronger recovery, upside should be limited by 124.09/125.29 resistance zone to bring fall resumption. Current development suggests that rebound from 118.62 has completed at 127.50 already. On the downside, break of 122.48 will target retest of 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.17; (P) 123.39; (R1) 123.77; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 122.48 temporary low. In case of stronger recovery, upside should be limited by 124.09/125.29 resistance zone to bring fall resumption. Current development suggests that rebound from 118.62 has completed at 127.50 already. On the downside, break of 122.48 will target retest of 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Weekly Outlook

EUR/JPY dropped to as low as 122.48 last week but formed temporary low there and recovered. Initial bias is neutral this week for some consolidations first. Current development suggests that rebound from 118.62 has completed at 127.50 already. Hence, upside of recovery should be limited by 124.09/125.29 resistance zone to bring fall resumption. On the downside, break of 122.48 will target retest of 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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 will extend this falling leg through 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.59; (P) 122.96; (R1) 123.44; More…

A temporary low is in place at 122.48 with current recovery, and 4 hour MACD crossed above signal line. Intraday bias is turned neutral first and some recovery could be seen. Upside of recovery should be limited by 124.09/125.29 resistance zone to bring fall resumption. As noted before, rebound form 118.62 has completed at 127.50 already. On the downside, break of 122.48 will target retest of 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.05; (P) 123.29; (R1) 123.46; More…

EUR/JPY’s decline extends to as low as 122.48 so far far. Intraday bias remains on the downside for the moment. As noted before, rebound form 118.62 has completed at 127.50 already. Further fall should be seen to retest this low. On the upside, above 123.52 minor resistance will turn intraday bias neutral first. But recovery should be limited by 124.09/125.29 resistance zone to bring fall resumption.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.91; (P) 123.58; (R1) 124.08; More…

EUR/JPY’s break of 123.39 key support now suggests that whole rise from 118.62 has completed at 127.50 already. Intraday bias remains on the downside for further decline. Sustained trading below 123.39 will confirm and pave the way to retest 118.62 low. On the upside, break of 124.29 resistance is needed to be the first sign of short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.59; (P) 123.95; (R1) 124.54; More…

Intraday bias in EUR/JPY remains on the downside for the moment, with focus on 123.39 key support. Sustained break will indicate larger reversal. That is rise from 118.62 has completed at 127.50 already. In such case, deeper fall should be seen to retest 118.62 low. On the upside, rebound from the current level, followed by break of 125.23 minor resistance, will turn bias back to the upside for 126.79 resistance instead.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. Break of 123.39 support will favor of down trend extension and target 118.62 low. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above. On the downside, sustained break of 123.39 will add to the case that down trend from 137.49 is still in progress for another low below 118.62.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.29; (P) 124.47; (R1) 124.67; More…

EUR/JPY drops sharply to as low as 123.36 so far today. Intraday bias is now on the downside with focus on 123.39 key support. Sustained break will indicate larger reversal. That is rise from 118.62 has completed at 127.50 already. In such case, deeper fall should be seen to retest 118.62 low. On the upside, rebound from the current level, followed by break of 125.23 minor resistance, will turn bias back to the upside for 126.79 resistance instead.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. Break of 123.39 support will favor of down trend extension and target 118.62 low. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above. On the downside, sustained break of 123.39 will add to the case that down trend from 137.49 is still in progress for another low below 118.62.

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EUR/JPY Weekly Outlook

EUR/JPY recovered to 125.23 last week but failed to sustain above 4 hour 55 EMA and reversed. The development is inline with the view that fall from 126.79, which is the third leg of pattern from 127.50, is still in progress. Initial bias stays neutral this week first with focus on 124.09. Break there will turn bias to the downside for 123.65 and below. On the upside, however, break of 125.23 resistance will now suggest short term bottoming and turn bias back to the upside.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. Break of 123.39 support will favor of down trend extension and target 118.62 low. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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 will extend this falling leg through 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.38; (P) 124.76; (R1) 124.96; More….

EUR/JPY is staying in consolidation from 124.09 temporary low and intraday bias remains neutral. Upside of the consolidation should be limited by 125.29 resistance to bring another decline. Fall from 126.79 is seen as the third leg of the corrective pattern from 127.50. On the downside, break of 124.09 will target 123.65 support and below. However, sustained break of 125.28 will turn focus back to 126.79 resistance instead.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.56; (P) 124.89; (R1) 125.09; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. Corrective rise from 124.09 is expected to be limited by 125.29 resistance to bring another decline. Fall from 126.79 is seen as the third leg of the corrective pattern from 127.50. On the downside, break of 124.09 will target 123.65 support and below. However, sustained break of 125.28 will turn focus back to 126.79 resistance instead.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.63; (P) 124.86; (R1) 125.26; More….

Outlook in EUR/JPY remains unchanged. Corrective rise from 124.09 is expected to be limited by 125.29 resistance to bring another decline. Fall from 126.79 is seen as the third leg of the corrective pattern from 127.50. On the downside, break of 124.09 will target 123.65 support and below. However, sustained break of 125.28 will turn focus back to 126.79 resistance instead.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.08; (P) 124.40; (R1) 124.72; More….

Intraday bias in EUR/JPY stays neutral for consolidation above 124.09 temporary low. Current development suggests corrective pattern from 127.50 is extending with fall from 126.79 as the third leg. Upside of recovery from 124.09 should be limited by 125.28 resistance to bring another fall. On the downside, below 124.09 will target 123.65 support. Nevertheless, break of 125.28 will turn bias back to the upside for 126.79 resistance.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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EUR/JPY Weekly Outlook

EUR/JPY dropped sharply to 124.09 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some consolidations first. Current development suggests corrective pattern from 127.50 is extending with fall from 126.79 as the third leg. Upside of recovery from 124.09 should be limited by 125.28 resistance to bring another fall. On the downside, below 124.09 will target 123.65 support. Nevertheless, break of 125.28 will turn bias back to the upside.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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 will extend this falling leg through 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 123.95; (P) 124.59; (R1) 124.98; More….

Intraday bias in EUR/JPY remains on the downside for 123.65 support and below. For now, price actions from 127.50 are seen as a corrective pattern only. Hence, strong support could be seen at around 123.39 support to bring rebound. On the upside, above 124.80 minor resistance will turn intraday bias neutral first.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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