Sun, Feb 28, 2021 @ 15:43 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.20; (P) 126.36; (R1) 126.58; More….

Intraday bias in EUR/JPY remains mildly on the downside at this point. Consolidation from 127.48 is in its third leg. Deeper fall would be seen back to 125.07 support. We’d expect some strong support from there to contain downside to bring rebound. On the upside, decisive break of 127.48 high will resume larger rise from 114.42, to 128.67 fibonacci level.

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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 126.21; (P) 126.51; (R1) 126.76; More….

EUR/JPY’s break of 126.26 minor support suggests that consolidation from 127.48 has started the third leg already. Intraday bias is back on the downside for 125.07 support. We’d expect some strong support from there to contain downside to bring rebound. On the upside, decisive break of 127.48 high will resume larger rise from 114.42, to 128.67 fibonacci level.

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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.21; (P) 126.51; (R1) 126.76; More….

Intraday bias in EUR/JPY remains neutral first. On the upside, decisive break of 127.48 will resume larger rise from 114.42, to 128.67 fibonacci level. On the downside, break of 126.26 minor support will delay the bullish case. Intraday bias will be turned back to the downside for 125.07 to extend the consolidation from 127.48 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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.32; (P) 126.76; (R1) 127.01; More….

Intraday bias in EUR/JPY is turned neutral as it retreated after failing to break through 127.48 resistance. On the upside, decisive break of 127.48 will resume larger rise from 114.42, to 128.67 fibonacci level. On the downside, break of 126.26 minor support will delay the bullish case. Intraday bias will be turned back to the downside for 125.07 to extend the consolidation from 127.48 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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.50; (P) 126.92; (R1) 127.53; More….

Intraday bias in EUR/JPY remains mildly on the upside for 127.48 resistance. Decisive break there will resume larger rise from 114.42, to 128.67 fibonacci level. On the downside, break of 126.26 minor support will delay the bullish case and turn bias neutral again first.

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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Weekly Outlook

EUR/JPY’s rebound from 125.07 extended higher last week. The development suggests that correction from 127.38 has completed already. Initial bias stays on the upside for 127.48 resistance first. Break there will resume larger rise from 114.42 to 128.67 fibonacci level. On the downside, break of 126.26 minor support will delay the bullish case and turn bias neutral again first.

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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 126.02; (P) 126.35; (R1) 126.70; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. Current rebound from 125.07 would target a test on 127.48 high. On the downside, below 125.98 minor support will turn bias neutral again first.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 125.72; (P) 125.96; (R1) 126.31; More….

EUR/JPY’s rebound from 125.07 resumes by taking out 126.39 minor resistance and hits as high as 126.65 so far. Intraday bias is back on the downside for retesting 127.48 high next. On the downside, below 125.98 minor support will turn bias neutral again first.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.72; (P) 125.96; (R1) 126.31; More….

EUR/JPY is staying in range of 125.07/126.39 and intraday bias remains neutral first. On the upside, break of 126.39 will resume the rebound from 125.07, for retesting 127.48 high. On the downside, however, break of 125.07 will argue that the correction from 127.48 is resuming. Intraday bias will be turned back to the downside for 61.8% retracement of 121.63 to 127.48 at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.75; (P) 125.96; (R1) 126.22; More….

Intraday bias in EUR/JPY stays neutral for the moment. On the upside, break of 126.39 will resume the rebound from 125.07, for retesting 127.48 high. On the downside, however, break of 125.07 will argue that the correction from 127.48 is resuming. Intraday bias will be turned back to the downside for 61.8% retracement of 121.63 to 127.48 at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.74; (P) 126.06; (R1) 126.30; More….

With 4 hour MACD crossed below signal line, intraday bias in EUR/JPY is turned neutral again. On the upside, break of 126.39 will resume the rebound from 125.07, for retesting 127.48 high. On the downside, however, break of 125.07 will argue that the correction from 127.48 is resuming. Intraday bias will be turned back to the downside for 61.8% retracement of 121.63 to 127.48 at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.99; (P) 126.20; (R1) 126.50; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. Rebound from 125.07 would extend to retest 127.48 resistance. However, break of 125.07 will argue that the correction from 127.48 is resuming. Intraday bias will be turned back to the downside for 61.8% retracement of 121.63 to 127.48 at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Weekly Outlook

EUR/JPY edged lower to 125.07 last week but recovered, after failing to sustain below 38.2% retracement of 121.63 to 127.48 at 125.24. Intraday bias remains mildly on the upside this week for retesting 127.48 high. On the downside, however, break of 125.07 will resume the corrective fall. Intraday bias will be turned back to the downside for 61.8% retracement at 123.86 next.

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 121.63 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.52; (P) 125.75; (R1) 126.16; More….

EUR/JPY rebounds notably but stays below 126.19 minor resistance. Intraday bias remains neutral first. On the upside, break of 126.19 will reaffirm the case that correction from 127.48 has completed at 125.07. Intraday bias will be turned back to the upside for retesting 127.48 high. On the downside, however, break of 125.07 will resume the correction from 127.48. Intraday bias will be turned back to the downside for 61.8% retracement of 121.63 to 127.48 at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.02; (P) 125.60; (R1) 125.94; More….

EUR/JPY retreated deeply after hitting 4 hour 55 EMA. Intraday bias is turned neutral first. On the upside, above 125.19 will bring retest of 127.48 high. However, break of 125.07 will resume the correction from 127.48. Intraday bias will be turned back to the downside for 61.8% retracement of 121.63 to 127.48 at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.41; (P) 125.81; (R1) 126.42; More….

Intraday bias in EUR/JPY remains mildly on the upside at this point. Corrective pull back from 127.48 should have completed at 125.07,m after hitting 38.2% retracement of 121.63 to 127.48 at 125.24. Further rise should be seen to retest 127.48 resistance. On the downside, though, firm break of 125.07 will extend the correction to 61.8% retracement at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 125.05; (P) 125.28; (R1) 125.46; More….

EUR/JPY’s break of 125.91 minor resistance suggests that corrective pull back from 127.48 has completed at 125.07. That came after drawing support from 38.2% retracement of 121.63 to 127.48 at 125.24. Intraday bias is back on the upside for retesting 127.48 resistance. On the downside, through, firm break of 125.07 will extend the correction to 61.8% retracement at 123.86.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.05; (P) 125.28; (R1) 125.46; More….

Intraday bias in EUR/JPY is turned neutral, as it recover strongly after hitting 38.2% retracement of 121.63 to 127.48 at 125.24. On the upside, break of 125.91 resistance will argue that the pull back from 127.48 has completed. Intraday bias will be turned back to the upside for retesting 127.48. Nevertheless, sustained trading below 125.24 will pave the way to 61.8% retracement at 123.86 next.

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 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.17; (P) 125.69; (R1) 125.96; More….

EUR/JPY’s fall from 127.48 short term top extends to as low as 125.13 so far and there is no sign of bottoming yet. Sustained break of 38.2% retracement of 121.63 to 127.48 at 125.24 will pave the way to 61.8% retracement at 123.86 next. On the upside, break of 125.91 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. Further rise is expected as long as 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Weekly Outlook

EUR/JPY’s break of trend line support last week confirms short term topping at 127.48. Initial bias remains on the downside this week for 38.2% retracement of 121.63 to 127.48 at 125.24. Break will target 61.8% retracement at 123.86 next. On the upside, above 126.19 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. Further rise is expected as long as 121.63 support holds. Decisive break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will target 137.49 next. However, firm break of 121.63 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.