Tue, May 18, 2021 @ 23:33 GMT

EUR/JPY Weekly Outlook

EUR/JPY edged higher to 130.95 last week but quickly retreated. Nevertheless, downside was contained by 129.56 minor support. Initial bias remains neutral this week first and further rise is mildly in favor. On the upside, firm break of 130.95 will resume larger rise from 114.42 to 100% projection of 114.42 to 127.07 from 121.63 at 134.28. However, on the downside, break of 129.56 support would turn bias to the downside for deeper correction to 128.28 support.

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 127.07 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).

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

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.74; (P) 129.95; (R1) 130.25; More….

Intraday bias in EUR/JPY stays neutral first. On the downside break of 129.56 support would turn bias to the downside for deeper correction to 128.28 support. On the upside, firm break of 130.95 will resume larger rise from 114.42 to 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 127.07 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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.74; (P) 129.95; (R1) 130.25; More….

Intraday bias in EUR/JPY stays neutral at this point. Another rise is expected as long as 129.56 minor support holds. Break of 130.95 will resume larger rise from 114.42 to 100% projection of 114.42 to 127.07 from 121.63 at 134.28. However, firm break of 129.56 will turn bias back to the downside for 128.28 support.

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 127.07 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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.73; (P) 130.35; (R1) 130.72; More….

Intraday bias in EUR/JPY is turned neutral again as it retreated after hitting 130.95. Another rise is expected as long as 129.56 minor support holds. Break of 130.95 will resume larger rise from 114.42 to 100% projection of 114.42 to 127.07 from 121.63 at 134.28. However, firm break of 129.56 will turn bias back to the downside for 128.28 support.

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 127.07 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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.78; (P) 130.07; (R1) 130.43; More….

EUR/JPY’s break of 130.65 indicates resumption of whole rally from 114.42. Intraday bias is back on the upside for 100% projection of 114.42 to 127.07 from 121.63 at 134.28. On the downside, break of 129.68 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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 127.07 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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.04; (P) 130.29; (R1) 130.60; More….

Intraday bias in EUR/JPY remains neutral for the moment. 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. 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.

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).

EUR/JPY Weekly Outlook

EUR/JPY continued to struggle below 130.65 resistance last week and outlook is unchanged. Initial bias remains neutral this week first. 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. 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.

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).

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

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.93; (P) 130.25; (R1) 130.48; More….

EUR/JPY continues to engage in range trading below 103.65 and intraday bias remains neutral. 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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.16; (P) 130.38; (R1) 130.72; More….

EUR/JPY is still bounded in tight range and intraday bias stays neutral at this point. 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).

EUR/JPY Daily Outlook

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.93; (P) 130.27; (R1) 130.64; More….

Intraday bias in EUR/JPY stays neutral as range trading continues below 130.65. 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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.19; (P) 130.37; (R1) 130.69; 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).

EUR/JPY Weekly Outlook

EUR/JPY failed to break through 130.65 resistance so far and intraday bias remains neutral first. 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).

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

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.69; (P) 130.08; (R1) 130.60; More….

EUR/JPY failed to break through 130.65 resistance so far and intraday bias remains neutral first. 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.

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.91; (P) 130.23; (R1) 130.65; More….

Focus is now on 130.65 resistance in EUR/JPY. Firm break there will resume larger up trend from 114.42. On the downside, break of 129.63 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.

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.91; (P) 130.23; (R1) 130.65; More….

Intraday bias in EUR/JPY remains neutral for the moment. Consolidation from 130.65 could extend with another fall. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42.

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.90; (P) 130.09; (R1) 130.33; More….

EUR/JPY is staying in the consolidation pattern from 130.65, and intraday bias remains neutral. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42. On the downside, below 128.28 will extend the correction from 130.65. But downside should be contained above 127.48 resistance turned support to bring rise resumption.

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.03; (P) 130.17; (R1) 130.31; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 130.65 is still extending. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42. On the downside, below 128.28 will extend the correction from 130.65. But downside should be contained above 127.48 resistance turned support to bring rise resumption.

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.39; (P) 129.72; (R1) 130.18; More….

EUR/JPY’s consolidation from 130.65 could still extend and intraday bias remains neutral first. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42. On the downside, below 128.28 will extend the correction from 130.65. But downside should be contained above 127.48 resistance turned support to bring rise resumption.

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).

EUR/JPY Daily Outlook

Daily Pivots: (S1) 129.10; (P) 129.32; (R1) 129.53; More….

Intraday bias in EUR/JPY stays neutral for more consolidations below 130.65. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42. On the downside, below 128.28 will extend the correction from 130.65. But downside should be contained above 127.48 resistance turned support to bring rise resumption.

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).