Daily Pivots: (S1) 128.33; (P) 129.02; (R1) 130.00; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. With break of 55 day EMA, the corrective pattern from 134.11 might have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone. This will now be the mildly favored case as long as 127.40 minor support holds. Nevertheless, break of 127.40 will bring retest of 124.37 instead.

In the bigger picture, medium term outlook remains neutral for now. Price actions from 134.11 are so far still seen as a corrective pattern. That is, rise from 114.42 (2020 low) is in favor to resume at a later stage. But before that, the corrective pattern from 134.11 could still extend further, sideway or downward. In the latter case, break of of 124.37 will target 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 140.75; (P) 141.61; (R1) 142.46; More….

Intraday bias in EUR/JPY is turned neutral with today’s recovery. But further decline is expected as long as 146.12 resistance holds. Break of 140.75 will resume the fall from 148.38 to 100% projection of 148.38 to 142.54 from 146.12 at 140.28. Firm break there could prompt downside acceleration to 161.8% projection at 136.67 next.

In the bigger picture, considering bearish divergence condition in weekly MACD, 148.38 could be a medium term top already. Fall from there is probably correcting whole up trend from 114.42 (2020 low). Deeper decline would be seen to 55 week EMA (now at 137.37), or further to 38.2% retracement of 114.42 to 148.38 at 135.40 before completion.

Daily Pivots: (S1) 132.48; (P) 133.03; (R1) 133.38; More….

EUR/JPY’s strong break of 132.51 support suggests that rise from 121.63 has completed at 134.11, just ahead of 100% projection of 114.42 to 127.07 from 121.63 at 134.28. Intraday bias is back on the downside. Sustained break of 55 day EMA (now at 131.96) will pave the way to 38.2% retracement of 121.63 to 134.11 at 129.34. On the upside, above 132.87 minor resistance will turn intraday bias neutral first.

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) 163.51; (P) 164.27; (R1) 165.52; More…

Intraday bias in EUR/JPY stays neutral for the moment. Consolidation from 165.33 could extend further. On the upside, firm break of 165.33 will resume larger up trend towards 169.96 key resistance next. However, decisive break of 162.59 will argue that it’s at least correcting the rise from 153.15, and target 38.2% retracement of 153.15 to 165.33 at 160.67.

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 120.05 last week but formed a temporary low there and recovered. Initial bias remain neutral this week first for some more consolidation. But still, outlook remains bearish as long as 122.32 resistance holds. on the downside, break of 120.05 will resume the decline from 127.50 for retesting 118.62 low. Though, break of 122.32 would indicate short term bottoming and bring stronger rebound to 123.35 resistance and above.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying well inside long term falling channel, and below falling 55 week EMA. 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.

Daily Pivots: (S1) 127.78; (P) 128.15; (R1) 128.50; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, break of 130.33 resistance will confirm resumption of rise from 124.61. That will also revive the case of near term reversal and turn bias to the upside for 133.47 key resistance. On the downside, break of 126.63 will bring retest of 124.61 low instead.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

Daily Pivots: (S1) 136.55; (P) 137.21; (R1) 138.16; More….

Intraday bias in EUR/JPY remains neutral for the moment. Overall, it’s staying in the corrective pattern from 144.26. On the upside, above 138.38 will resume the rebound from 138.38. On the downside, below 134.93 will turn bias back to the downside for 133.38 support.

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) 124.10; (P) 124.37; (R1) 124.61; More….

Intraday bias in EUR/JPY is neutral so far with today recovery. But further fall is mildly in favor as long as 125.01 resistance holds. Decline from 127.50 should extend to 61.8% retracement of 118.62 to 127.50 at 122.01. However, break of 125.01 will turn bias back to the upside for 126.78/127.50 resistance zone.

In the bigger picture, rebound from 118.62 might have completed earlier than expected at 127.50. EUR/JPY is held well inside medium term falling channel, and below 55 week EMA (now at 127.73). That is, the down trend from 137.49 (2018 high) might still be in progress. Break of 118.62 will target 109.03/114.84 long term support zone. On the upside, however, break of 127.50 will extend the rebound from 118.62 to 133.12 key resistance instead.

Daily Pivots: (S1) 163.12; (P) 163.72; (R1) 164.18; More….

A temporary top is formed at 164.29 in EUR/JPY with current retreat. Intraday bias is turned neutral for consolidations first. Downside of retreat should be contained well above 159.75 resistance turned support to bring another rally. On the upside, break of 164.29 will resume larger up trend to 61.8% projection of 139.05 to 159.75 from 154.32 at 167.11.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 169.96 (2008 high). On the downside, break of 159.75 resistance turned support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

Daily Pivots: (S1) 132.09; (P) 132.28; (R1) 132.42; More….

EUR/JPY failed to sustain above 132.63 support turned resistance and drops notably today. But downside is contained above 131.21 minor support and intraday bias remains neutral first. On the upside, firm break of 132.63 should confirm completion of correction from 134.11. Intraday bias will be turned back to the upside for retesting 134.11 first. On the downside, below 131.21 minor support will extend the correction through 130.02. But in this case, we’d expect strong support from 38.2% retracement of 121.63 to 134.11 at 129.34 to bring rebound.

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) 141.80; (P) 142.28; (R1) 143.17; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, decisive break of 144.23 will resume larger up trend. On the downside, below 141.39 minor support will bring deeper fall, to extend the corrective pattern from 144.23.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Such rise is seen as the third leg of the pattern from 109.30 (2016 low). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will now remain bullish as long as 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 156.55; (P) 157.33; (R1) 157.88; More..

EUR/JPY retreated after hitting 158.55 and intraday bias is turned neutral first. On the upside, above 158.55 will resume the rebound from 153.15 to 55 D EMA (now at 158.82). On the downside, break of 153.15 will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69.

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) 120.86; (P) 121.42; (R1) 122.00; More….

Outlook in EUR/JPY is unchanged. As long as 122.11 resistance holds, fall from 124.43 is expected to resume sooner or later. Break of 120.58 minor support will turn bias to the downside for 119.31 support. Break will target 61.8% retracement of 114.42 to 124.43 at 118.24. On the upside, however, break of 122.11 will argue that fall from 124.43 has completed. Stronger rise would be seen to retest 124.43.

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 119.60) 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) 140.52; (P) 141.66; (R1) 142.51; More….

The break of 139.99 resistance turned support suggests that deeper correction is underway. Intraday bias is now on the downside for 55 day EMA (now at 136.85). Break there will bring further decline to 132.63 support. On the upside, above 141.77 minor resistance will turn bias back to the upside for 144.23 again.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Such rise is seen as the third leg of the pattern from 109.30 (2016 low). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will now remain bullish as long as 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 157.27; (P) 157.64; (R1) 158.04; More….

Intraday bias in EUR/JPY stays on the upside for 100% projection of 139.05 to 151.60 from 146.12 at 158.67. Firm break there will target 138.2% projection at 163.46 next. Considering bearish divergence condition in 4H MACD, break of 155.74 minor support will indicate short term topping, and turn bias back to the downside for deeper pull back.

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 138.81 at 162.82. For now, medium term outlook will remain bullish as long as 151.60 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 130.57; (P) 131.07; (R1) 131.45; More…

A temporary top is in place at 131.69 and intraday bias is turned neutral first. Near term outlook in EUR/JPY will remain bullish as long as 127.55 support holds. Break of 131.69 will extend the larger rally to 61.8% projection of 122.39 to 131.39 from 127.55 at 133.11 next.

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.

EUR/JPY’s correction from 148.38 extended lower last week and it’s now drawing support from 55 day EMA (now at 143.54). Strong rebound from current level, followed by break of 145.02 minor resistance will turn intraday bias back to the upside for retesting 148.38 high. However, sustained break of 38.2% retracement of 133.38 to 148.38 at 142.65 will bring deeper fall to 61.8% retracement at 139.11 and possibly below.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through1 48.38 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 144.42.

In the long term picture, outlook will stay bullish as long as 134.11 resistance turned support holds (2021 high). Sustained break of 149.76 (2014 high) will open up further rally, as resumption of the rise from 94.11 (2012 low), towards 169.96 (2008 high).

Daily Pivots: (S1) 154.70; (P) 156.09; (R1) 156.79; More..

EUR/JPY’s break of 155.98 minor support suggests that recovery from 153.15 has completed at 157.67 already. Intraday bias is back on the downside for retesting 153.15 first. Firm break there will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69. For now, outlook will remain cautiously bearish as long as 157.67 resistance holds, in case of recovery.

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) 123.27; (P) 123.78; (R1) 124.50; More….

Intraday bias in EUR/JPY remains on the upside for 124.43 resistance. Decisive break there will resume whole rally from 114.42 bottom. Next target will be 61.8% projection of 114.42 to 124.43 from 119.31 at 125.49. On the downside, break of 121.96 resistance turned support is needed to indicate completion of the rise. Otherwise, outlook will stay cautiously bullish in case of retreat.

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 120.35) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

EUR/JPY failed to break through 151.60 resistance last week, and retreated. Initial bias remains neutral this week first. On the downside, below 148.58 temporary low will extend the corrective pattern from 151.60 with another falling leg. Deeper fall would be seen to 146.12 support and possibly below. On the upside, however, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 139.05 support holds, even in case of deep pull back.

In the long term picture, break of 149.76 (2014 high) argues that whole up trend form 94.11 (2012 low) is resuming. Sustained trading above 149.76 will pave the way to 100% projection of 94.11 to 149.76 from 109.03 at 164.68, which is close to 169.96 (2008 high).