Mon, Jul 22, 2019 @ 01:19 GMT

EUR/JPY Weekly Outlook

EUR/JPY dropped further to 120.78 last week but turned sideway after touching 120.78 support. Initial bias is neutral this week first. Larger decline from 127.50 should be ready to resume too. Firm break of 120.78 will confirm and target 118.62 low. On the upside, break of 122.32 resistance will extend the consolidation from 120.78 with another rise towards 123.35 resistance instead.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of 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 will extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is now the preferred case.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.77; (P) 121.01; (R1) 121.23; More….

EUR/JPY lost downside momentum after hitting 120.78 and intraday bias is turned neutral first. on the downside, decisive break of 120.78 support resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.05; (P) 121.28; (R1) 121.41; More….

No change in EUR/JPY’s outlook and intraday bias remains on the downside. Decisive break of 120.78 support resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

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EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.06; (P) 121.37; (R1) 121.64; More….

Intraday bias in EUR/JPY remains on the downside for 120.78 support. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of 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) 121.32; (P) 121.58; (R1) 121.75; More….

Intraday bias in EUR/JPY is back on the downside with break of 121.31 minor support. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Break of 120.78 low will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.32; (P) 121.58; (R1) 121.75; More….

No change in EUR/JPY’s outlook and intraday bias remains neutral first. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.35; (P) 121.79; (R1) 122.06; More….

Intraday bias in EUR/JPY remains neutral for the moment. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Weekly Outlook

EUR/JPY stayed in range above 121.31 last week and outlook is unchanged. Initial bias remains neutral this week first. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of 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 will extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is now the preferred case.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.76; (P) 121.98; (R1) 122.33; More….

No change in EUR/JPY’s outlook and intraday bias remains neutral first. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.89; (P) 122.11; (R1) 122.24; More….

Intraday bias in EUR/JPY remains neutral at this point. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.64; (P) 121.89; (R1) 122.24; More….

Outlook in EUR/JPY is unchanged and intraday bias remains neutral first. We’re favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.64; (P) 121.81; (R1) 122.09; More….

Intraday bias in EUR/JPY stays neutral at this point and outlook is unchanged. We’re favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.53; (P) 121.73; (R1) 121.99; More….

Intraday bias in EUR/JPY remains neutral for the moment. We’re favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Weekly Outlook

EUR/JPY dropped to 121.31 last week but recovered ahead of 120.78 support. Initial bias is turned neutral this week first. We’re still favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of 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 will extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is now the preferred case.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.57; (P) 121.65; (R1) 121.75; More….

EUR/JPY’s consolidation pattern from 120.78 could have completed with three waves to 123.35 already. Decisive break of 120.78 low will resume larger fall from 127.50 to 118.62 low next. On the upside, in case of another rise, upside should be limited below 123.73 to bring down trend resumption.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.21; (P) 121.71; (R1) 122.09; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Consolidation pattern from 120.78 should have completed with three waves to 123.35. Decisive break of 120.78 low will resume larger fall from 127.50 to 118.62 low next. On the upside, in case of another rise, upside should be limited below 123.73 to bring down trend resumption.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 121.50; (P) 122.02; (R1) 122.32; More….

EUR/JPY’s break of 121.65 minor support argues that consolidation pattern from 120.7 has completed with three waves to 123.35. Intraday bias is turned back to the downside for 120.78 low first. Decisive break there will resume larger fall from 127.50 to 118.62 low next. On the upside, in case of another rise, upside should be limited below 123.73 to bring down trend resumption.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.04; (P) 122.69; (R1) 123.03; More….

EUR/JPY is staying in consolidation from 120.78 and intraday bias remains neutral first. Another rise cannot be ruled out. But upside should be limited by 123.73 resistance to bring larger fall resumption. On the downside, below 121.65 minor support will turn bias to the downside for 120.78 low. Decisive break there will resume the decline from 127.50 and target 118.62 low next.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.41; (P) 122.60; (R1) 122.91; More….

EUR/JPY edged higher today but overall outlook is unchanged. Price actions from 120.78 are seen as a consolidation pattern. Further rise cannot be ruled out. But upside should be limited by 123.73 resistance to bring larger fall resumption. On the downside, below 121.65 minor support will turn bias to the downside for 120.78 low. Decisive break there will resume the decline from 127.50 and target 118.62 low next.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

- advertisement -

EUR/JPY Weekly Outlook

EUR/JPY recovered further last week as consolidations from 120.78 extended. Further rise could be seen initially this week. But upside should be limited by 123.73 resistance to bring larger fall resumption. On the downside, below 121.65 minor support will turn bias to the downside for 120.78 low. Decisive break there will resume the decline from 127.50 and target 118.62 low next.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of 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 will extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is now the preferred case.

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