Daily Pivots: (S1) 130.49; (P) 130.92; (R1) 131.17; More…

EUR/JPY drops sharply today but it’s staying above 129.65 minor support for the moment. Intraday bias remains neutral and another rise is still mildly in favor. Break of 131.69 will extend the larger up trend to 61.8% projection of 122.39 to 131.39 from 127.55 at 133.11 next. However, break of 129.65 will dampen the bullish case and turn bias back to the downside for 127.55 support instead.

In the bigger picture, the down trend from 149.76 (2014 high) is completed at 109.03 (2016 low). Current rally from 109.03 should be at the same degree as the fall from 149.76 to 109.03. Further rise is expected to 61.8% retracement of 149.76 to 109.03 at 134.20. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. Medium term outlook will remain bullish as long as 124.08 resistance turned support holds. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.

Daily Pivots: (S1) 131.96; (P) 132.51; (R1) 132.83; More…

Intraday bias in EUR/JPY remains neutral for consolidative trading below 134.39 high. Near term outlook remains bullish as long as 131.69 holds. Sustained break of 134.20 fibonacci level will extend larger up trend to 141.04 resistance next. However, break of 131.69 will be an early sign of medium term reversal and will target 127.55 key support level instead.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. On the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

Daily Pivots: (S1) 132.74; (P) 132.96; (R1) 133.30; More….

Intraday bias in EUR/JPY remains on the upside for 134.11 high. Firm break there will resume larger up trend from 114.42. Next target is 61.8% projection of 121.63 to 134.11 from 127.91 at 135.62. On the downside, below 132.13 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). Next target will be 100% projection of 109.03 to 137.49 from 114.42 at 142.88. This will now remain the favored case as long as 127.91 support holds.

Daily Pivots: (S1) 133.28; (P) 133.45; (R1) 133.70; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 134.11 could extend. Further rally is still expected with 132.51 support intact. On the upside, sustained break of 100% projection of 114.42 to 127.07 from 121.63 at 134.28, will extend the up trend from 114.42 to 137.49 long term resistance next. On the downside, however, firm break of 132.51 will indicate short term topping and bring deeper pull back.

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 130.65 resistance turned support holds. Next target is 137.49 (2018 high). Decisive break there will open up the possibility that it’s indeed resuming the up trend from 94.11 (2012 low). For now, outlook will stay bullish as long as 127.07 resistance turned support holds, in case of pull back.

Daily Pivots: (S1) 127.66; (P) 128.13; (R1) 128.82; More…

Intraday bias in EUR/JPY remains neutral for consolidation below 128.82 temporary top. Downside of retreat should be contained by 126.47 support to bring rise resumption. Above 128.82 will target 61.8% projection of 114.84 to 125.80 from 122.39 at 129.16 first . That’s also close to medium term projection level at 129.89.

In the bigger picture, the break of 126.09 support turned resistance should have confirmed completion of down trend form 149.76 (2014 high), at 109.03 (2016 low). Current rise from 109.03 should target 100% projection of 109.03 to 124.08 from 114.84 at 129.89 first. Break there will pave the way to 61.8% retracement of 149.76 to 109.03 at 134.20 and above. Medium term outlook will now remain bullish as long as 122.39 support holds.

Daily Pivots: (S1) 129.91; (P) 130.21; (R1) 130.61; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, break of 129.56 minor support will extend the consolidation from 130.65 with another fall. Intraday bias will be turned back to the downside for 128.28 support. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 will resume the whole rally from 114.42, for 100% projection of 114.42 to 127.07 from 121.63 at 134.28.

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 125.07 support holds. Next target is 137.49 (2018 high). Decisive break there will open up the possibility that it’s indeed resuming the up trend from 94.11 (2012 low).

Daily Pivots: (S1) 129.72; (P) 129.92; (R1) 130.17; More….

EUR/JPY is losing some downside momentum as seen in 4 hour MACD. But intraday bias stays on the downside as fall from 133.44 is in progress for 127.92 key support. Firm break there will carry larger bearish implication. On the upside, however, break of 131.40 minor resistance will turn bias back to the upside for stronger rebound, probably back to retest 133.44 high.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). However, sustained break of 127.91 support will argue that a medium term top is formed, and turn outlook bearish for deeper fall.

Daily Pivots: (S1) 132.50; (P) 132.96; (R1) 133.24; More….

Intraday bias in EUR/JPY remains neutral at this point as consolidation from 134.11 is still in progress. Another rise is in favor with 132.51 support intact. On the upside, sustained break of 100% projection of 114.42 to 127.07 from 121.63 at 134.28, will extend the up trend from 114.42 to 137.49 long term resistance next. However, on the downside, firm break of 132.51 will argue that EUR/JPY is already correcting whole rise from 121.63. Intraday bias will be turned to the downside for 128.8/130.65 support zone.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Next target is 137.49 (2018 high). Decisive break there will open up the possibility that it’s indeed resuming the up trend from 94.11 (2012 low). For now, outlook will stay bullish as long as 127.07 resistance turned support holds, in case of pull back.

Daily Pivots: (S1) 161.13; (P) 161.54; (R1) 162.18; More…

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. On the downside, below 160.20 will resume the fall from 163.70 to 38.2% retracement of 153.15 to 163.70 at 159.66. Sustained break there will indicate that fall from 163.70 is reversing whole rise from 153.13, and target 61.8% retracement at 157.18. On the upside, though, above 162.16 minor resistance will retain near term bullishness, and bring retest of 163.70.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 which could still be extending. As long as 148.38 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage. Next target would be 169.96 (2008 high).

Daily Pivots: (S1) 131.29; (P) 131.52; (R1) 131.96; More….

EUR/JPY is losing some downside momentum as seen in 4 hour MACD. But with 133.05 resistance intact, deeper fall is expected in the cross. Current development indicate medium term topping at 137.49, on bearish divergence condition in daily MACD. Deeper fall should be seen to 126.61 medium term fibonacci level next. On the upside, though, break of 133.05 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, current development argues that rise from 109.03 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.

Daily Pivots: (S1) 131.29; (P) 131.52; (R1) 131.96; More….

EUR/JPY’s decline continues today and intraday bias stays on the downside. Current development indicate medium term topping at 137.49, on bearish divergence condition in daily MACD. Deeper fall should be seen to 126.61 medium term fibonacci level next. On the upside, though, break of 133.05 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, current development argues that rise from 109.03 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.

Daily Pivots: (S1) 129.83; (P) 130.20; (R1) 130.49; More….

Outlook in EUR/JPY is unchanged for now and intraday bias remains neutral first. On the upside, break of 131.07 resistance will argue that choppy fall from 134.11 has completed. Intraday bias will be turned back to the upside for 132.68 resistance first. On the downside, break of 128.58 will resume the fall from 134.11, and target 127.07 resistance turned support next.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. As long as 127.07 resistance turned support holds, further rise is still expected to retest 137.49 (2018 high). However, firm break of 127.07 will argue that the medium term trend has reversed, and open up the case for retesting 114.42.

Daily Pivots: (S1) 132.69; (P) 133.15; (R1) 133.84; More…

At this point, EUR/JPY is staying in range of 131.69/134.39 and intraday bias remains neutral first. on th eupside, decisive break of 134.39 high will confirm up trend resumption. In such case, EUR/JPY should target 141.04 long term resistance. However, firm break of 131.69 will be an early sign of medium term reversal and will target 127.55 key support level.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will argue that the medium term trend has reversed and will turn outlook bearish for deeper fall.

Daily Pivots: (S1) 116.52; (P) 116.91; (R1) 117.37; More…

Intraday bias in EUR/JPY remains on the upside for 122.88 resistance. As noted before, corrective fall from 124.08 has completed at 114.84 already. Break of 122.88 will likely extend the larger rise from 109.20 through 124.08 resistance to 126.09 key resistance level. On the downside, though, 117.81 minor support will turn focus back to 114.84 low instead.

In the bigger picture, price actions from 109.20 is still seen as a corrective move for the moment. But current development suggests that the first leg is finished at 109.20, second leg at 114.84. And rise from 114.84 is possibly developing into the third leg. Further rise will now be mildly in favor through 124.08 resistance. Strong break of 126.09 support turned resistance will confirm completion of whole fall from 149.76 at 109.20. In such case, rise from 109.20 is developing into a medium term move for 141.04 and above.

Daily Pivots: (S1) 133.90; (P) 134.20; (R1) 134.64; More…

EUR/JPY’s sharp fall suggests rejection from 134.39 key resistance. That is, rise from 131.65 could have completed. Intraday bias is turned back to the downside for 131.65. Overall outlook will remain bullish as long as 131.65 holds and another rise is still in favor. But firm break of 131.65 will suggest reversal and turn focus to 127.55 key support. On the upside, sustained trading above 134.39 will confirm up trend resumption and and target 141.04 long term resistance.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will argue that the medium term trend has reversed and will turn outlook bearish for deeper fall.

Daily Pivots: (S1) 137.77; (P) 138.70; (R1) 139.19; More….

EUR/JPY rebounded strongly today but stays below 142.84 resistance. Intraday bias remains neutral first. On the downside, break of 138.00 support should resume whole decline from 148.38 to 135.40 fibonacci level next. however, firm break of 142.84 will argue that the correction from 148.38 has completed, and bring stronger rise back to 146.71 resistance.

In the bigger picture, as long as 55 week EMA (now at 138.64) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, firm break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Sustained break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 164.13; (P) 164.54; (R1) 165.06; More…

Intraday bias in EUR/JPY is turned neutral with current recovery. On the upside, firm break of 55 4H EMA (now at 166.08) will bring stronger rebound towards 168.64 resistance. On the downside, break of 164.01, and sustained trading below 55 D EMA (now at 163.97) will extend the fall from 171.58 to 61.8% retracement of 153.15 to 171.58 at 160.19.

In the bigger picture, a medium top could be formed at 171.58 after brief breach of 169.96 (2008 high). As long as 55 W EMA (now at 157.82) holds, fall from there is seen as correcting the rise from 153.15 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 153.15 support.

Daily Pivots: (S1) 120.21; (P) 120.69; (R1) 120.99; More…

EUR/JPY is staying in tight range below 121.32 and intraday bias stays neutral. We’re holding on to the view that corrective fall from 124.08 has completed at 119.32 already. Above 121.32 will turn bias to the upside for 123.30 resistance. Break of 123.30 will likely extend the whole medium term rise from 109.20 through 124.08 high. Below 119.32 will bring another fall. In that case, downside should be contained by 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) and bring rebound.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. There is prospect of another rise towards 126.09 key resistance level before completion. But even in that case, we’d expect strong resistance between 126.09 and 141.04 to limit upside, at least on first attempt. Nonetheless, decisive break of 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) will argue that rise from 109.20 is completed and turn outlook bearish for 61.8% retracement at 114.88 and below.

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Daily Pivots: (S1) 119.19; (P) 119.74; (R1) 120.17; More…

EUR/JPY drops to as low as 119.32 so far and intraday bias stays on the downside for 118.39/45 key cluster level (38.2% retracement of 109.20 to 124.08 at 118.39). Current fall is seen as part of the consolidation pattern from 124.08. We’d expect strong support from 118.39/45 to contain downside and bring rebound. On the upside, above 120.81 minor resistance will turn bias back to the upside for 122.88 and then 124.08.

In the bigger picture, we’re holding on to the view that medium term rise from 109.20 is still in progress. Focus is on 126.09 key resistance level. Sustained break will confirm completion of the whole decline from 149.76. And rise from 109.20 is of the same degree as the fall from 149.76. In such case, further rally would be seen to 104.04 resistance and possibly above before topping. Meanwhile, rejection from 126.09, or firm break of 118.45 cluster support, will likely extend the fall from 149.76 through 109.20 low.

Daily Pivots: (S1) 142.79; (P) 143.90; (R1) 144.75; More….

No change in EUR/JPY’s outlook and intraday bias stays neutral. Break of 142.52 support will extend the decline from 148.38, to 61.8% retracement of 133.38 to 148.38 at 139.11. On the upside, though, above 146.12 minor resistance will bring stronger rebound back to retest 148.38 high instead.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through 148.38 to 149.76 (2014 high). However, break of 137.32 support argue that a medium term correction has already started to correct the whole up trend from 114.42.