Daily Pivots: (S1) 154.54; (P) 155.32; (R1) 156.76; More..

EUR/JPY’s recovery from 153.15 extends higher today but outlook is unchanged. Upside should be limited below 158.36 minor resistance to bring another fall. On the downside, below 155.98 will turn bias to the downside for retesting 153.15. Break of 153.15 and sustained trading below 38.2% retracement of 139.05 to 164.29 at 154.64 will target 61.8% retracement at 148.69 next.

In the bigger picture, price actions from 164.29 medium term top are tentatively seen as a correction to rise from 139.05 for now. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) could still resume through 164.29 at a later stage.

Daily Pivots: (S1) 157.66; (P) 158.12 (R1) 158.59; More….

Intraday bias in EUR/JPY is turned neutral first with today’s recovery. On the upside, decisive break of 159.32 will resume larger up trend, and target 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next. On the downside, however, break of 157.64 will turn bias back to the downside for deeper correction.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will now remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 126.15; (P) 126.41; (R1) 126.63; More….

EUR/JPY’s fall from 127.50 extends to as low as 124.27 so far today. Focus is now immediately on 124.23 cluster support 38.2% retracement of 118.62 to 127.50 at 124.10). Decisive break there should confirm completion of whole rebound from 118.61. Deeper fall should at least be seen to 61.8% retracement at 122.01. In this case, the chance of resuming larger down trend will also increase. On the upside, though, break of 125.34 minor resistance after defending 124.10/23 will retain near term bullishness. Intraday bias will be turned back to the upside for retesting 127.50 first.

In the bigger picture, current development argues that medium term decline from 137.49 (2018 high) has completed with three waves down to 118.62 already. Decisive break of 133.12 resistance will confirm this bullish case. And whole up trend from 109.03 (2016 low) might resume through 137.49 in that case. On the downside, break of 124.23 support will invalidate this case. And in such case, the down trend from 137.49 could possibly resume through 118.62.

EUR/JPY edged lower to 115.44 last week but rebounded strongly since then. A short term bottom could be formed at 115.44 on bullish convergence condition in 4 hour MACD. Initial bias is mildly on the upside this week for 119.00 resistance. Sustained break there will indicate that whole fall from 122.87 has completed and turn outlook bullish. On the downside, break of 115.44 will resume larger down trend instead.

In the bigger picture, there is no clear indication of trend reversal yet, with the cross staying well inside falling channel. Fall from 137.49 (2018 high) is still in progress for 109.48 (2016 low). Also, in any case, outlook will remain bearish as long as 122.87 resistance holds, in case of another 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. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA (now at 124.57), this is the preferred case.

Daily Pivots: (S1) 129.95; (P) 130.51; (R1) 131.41; More….

EUR/JPY’s rebound from 129.59 extends to as high as 131.70 so far today. A this point, as the cross is staying in range above 129.34, intraday bias stays neutral first. Also, we’d expect strong resistance from 38.2% retracement of 137.49 to 129.34 at 132.45 to limit upside and bring fall resumption eventually. On the downside, decisive break of 129.34 will confirm resumption of whole fall 137.49 and target 126.61 medium term fibonacci level. However, firm break of 132.45 will target 61.8% retracement at 134.37 instead.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. On the upside, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

EUR/JPY edged higher to 133.08 last week but continued to lose upside momentum, as seen in 4 hour MACD. Breach of 132.10 minor support argues that corrective rebound from 128.94 could have completed. Initial bias is turned to the downside this week for retesting 128.94 low. On the upside, above 133.08 will extend such rebound. But upside will likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

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.

Daily Pivots: (S1) 117.14; (P) 117.32; (R1) 117.54; More….

Intraday bias in EUR/JPY remains mildly on the downside for the moment. Corrective recovery from 115.86 should have completed at 120.01. Deeper fall should be seen to retest 115.86 low. On the upside, above 118.47 minor resistance will turn bias back to the upside for 120.01 resistance instead.

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.

Daily Pivots: (S1) 146.07; (P) 146.48; (R1) 146.87; More….

No change in EUR/JPY’s outlook and intraday bias stays on the upside. Current rise from 137.37 is in progress and further further rally should be seen back to retest 148.38 high. On the downside, below 145.13 minor support will turn intraday bias neutral. But outlook will stay cautiously bullish as long as 142.53 support holds, in case of retreat.

In the bigger picture, as long as 55 week EMA (now at 139.78) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, sustained break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Decisive break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 138.93; (P) 139.47; (R1) 140.00; More….

EUR/JPY’s rise from 133.38 is still in progress. Intraday bias stays on the upside for 100% projection of 133.38 to 138.38 from 135.50 at 140.50. Decisive break there will indicate upside acceleration, and raise the chance of up trend resumption through 144.26 high. On the downside, below 138.24 minor support will turn intraday bias neutral again.

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 134.11 resistance turned support holds, even in case of deep pull back. Next target is 149.76 (2015 high). However, sustained break of 134.11 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

Daily Pivots: (S1) 131.08; (P) 131.53; (R1) 131.97; More….

EUR/JPY is still bounded in range from 128.94 and intraday bias remains neutral. As long as 132.40 holds, near term outlook remains bearish for deeper fall. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.

Daily Pivots: (S1) 124.10; (P) 124.33; (R1) 124.76; More….

EUR/JPY’s rebound from 122.84 resumes and intraday bias is back on the upside. Firm break of 125.13 resistance will revive the case that correction from 127.07 has completed. Further rally would be seen back to retest this high. On the downside, though, break of 122.84 will turn bias back to the downside for 121.63 support instead.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

Daily Pivots: (S1) 158.32; (P) 158.61; (R1) 159.03; More….

Intraday bias in EUR/JPY is back on the upside with breach of 159.20 temporary top. Current up trend should target 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next. On the downside, below 158.17 minor support will turn bias neutral again and bring more consolidations.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will now remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 164.23; (P) 164.79; (R1) 165.22; More…

Intraday bias in EUR/JPY is turned neutral first with current retreat. Some consolidations could be seen but downside should be contained by 55 4H EMA (now at 163.19) to bring another rally. On the upside, break of 165.33 will resume larger up trend to 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71.

In the bigger picture, current rally is part of the up trend from 114.42 (2020 low), which is still in progress. Next target is 169.96 (2008 high). Break of 160.20 support is needed to be the first sign of medium term topping. Otherwise, outlook will stay bullish in case of retreat.

EUR/JPY dropped to as low as 115.54 last week and the break of 116.12 support confirms resumption of fall from 122.87. More importantly, break of 115.86 low suggests larger down trend resumption. Nevertheless, as a temporary low was formed with subsequently, initial bias is neutral this week for consolidations first. Upside should be limited by 117.21 resistance to bring fall resumption. Break of 115.54 will target 100% projection of 121.14 to 116.33 from 119.00 at 114.19 next.

In the bigger picture, down trend from 137.49 (2018 high) is possibly resuming. Medium term bearishness is maintained with the cross staying well inside falling channel established since 137.49 (2018 high), as well as below falling 55 week EMA. Next downside target will be 109.48 (2016 low). In any case, outlook will remain bearish as long as 122.87 resistance holds, in case of 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. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA (now at 124.80), this is the preferred case.

EUR/JPY rebounded strongly last week but failed to take out 125.13 resistance. The development mixed up the near term outlook and initial bias stays neutral this week first. On the upside, firm break of 125.13 will revive the case that correction from 127.07 has completed. Further rally would be seen back to retest this high. On the downside, though, break of 122.84 will turn bias back to the downside for 121.63 support instead, to extend the pattern from 127.07 with another falling leg.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Another rising leg could have started for 137.49 resistance and above.

Daily Pivots: (S1) 117.63; (P) 117.90; (R1) 118.22; More….

EUR/JPY is staying in consolidation from 117.51 and intraday bias remains neutral for the moment. Outlook stays bearish with 119.87 resistance intact. Break of 117.51 will resume the large down trend to 114.84 support next. However, break of 119.87 resistance will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 120.67).

In the bigger picture, down trend from 137.49 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 127.50 resistance is needed to confirm medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 130.90; (P) 131.21; (R1) 131.62; More….

EUR/JPY’s rally resumes after brief consolidation and breaches 131.52 temporary top. Intraday bias is turned back to the upside. Current rise from 14.61 should target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. On the downside, below 130.79 minor support will turn bias to the downside and bring deeper retreat, possibly to 4 hour 55 EMA (now at 130.22) and below. But downside should be contained by 129.55 resistance turned support to bring another rally.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there as completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 120.24; (P) 120.47; (R1) 120.74; More….

EUR/JPY’s is in progress and intraday bias remains on the downside. Current decline from 127.50 should target 118.62 low next. Break will resume medium term down trend. On the upside, above 120.78 minor resistance will turn intraday bias neutral and bring consolidation first. But outlook will stay bearish as long as 122.32 resistance holds.

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.

Daily Pivots: (S1) 120.28; (P) 120.88; (R1) 121.50; More…..

EUR/JPY is staying in consolidation from 119.31 and intraday bias remains neutral first. Further decline is in favor with 122.11 minor resistance intact. On the downside, break of 119.31 will resume the fall from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24. However, break of 122.11 will turn bias back to the upside for retesting 124.43 instead.

In the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next. Sustained break there will pave the way to 137.59 (2018 high). This will remain the preferred case for now, as long as 55 day EMA (now at 119.39) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

Daily Pivots: (S1) 154.61; (P) 155.38; (R1) 156.58; More….

Intraday bias in EUR/JPY remains mildly on the upside for retesting 157.99 high. Firm break there will resume larger up trend. On the downside, break of 153.32 will extend the pull back from 157.99 to 55 D EMA (now at 152.62) and possibly below.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.