Wed, Dec 07, 2022 @ 00:37 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 146.51; (P) 146.85; (R1) 147.48; More….

Intraday bias in EUR/JPY remains on the upside despite some loss of upside momentum. Current rally should target 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, below 145.80 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.75 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 145.14; (P) 145.93; (R1) 147.49; More….

EUR/JPY’s break of 145.62 resistance confirms up trend resumption. Intraday bias stays on the upside for 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, below 144.58 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.75 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 143.80; (P) 144.33; (R1) 145.17; More….

Intraday bias in EUR/JPY remains on the upside at this point. Decisive break of 145.62 resistance will will confirm up trend resumption. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, below 143.46 minor support will turn intraday bias neutral first.

EUR/JPY Mid-Day Outlook

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 143.80; (P) 144.33; (R1) 145.17; More….

Intraday bias in EUR/JPY stays on the upside for 145.62 resistance. Firm break there will confirm up trend resumption. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, break of 140.88 will extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Weekly Outlook

EUR/JPY’s rise from 137.32 resumed and extended higher last week. Initial bias stays on the downside this week for retesting 145.62 high first. Decisive break there will confirm up trend resumption. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, break of 140.88 will extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 (2016 low) should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 142.44; (P) 143.26; (R1) 144.77; More….

EUR/JPY’s rebound from 132.32 resumed by breaking 144.06 resistance. Intraday bias is back on the upside for retesting 145.62 high. Decisive break there will resume larger up trend. For now, further rally will remain in favor as long as 140.88 support intact, in case of retreat.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.78; (P) 142.21; (R1) 142.98; More….

Intraday bias in EUR/JPY stays neutral at this point. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg towards 137.32 support. On the upside, above 144.06 will bring retest of 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.95; (P) 141.58; (R1) 142.14; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg towards 137.32 support. On the upside, above 144.06 will bring retest of 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.95; (P) 141.38; (R1) 141.85; More….

Intraday bias in EUR/JPY stays neutral at this point. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg towards 137.32 support. On the upside, above 144.06 will bring retest of 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.14; (P) 141.68; (R1) 142.14; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg towards 137.32 support. On the upside, above 144.06 will bring retest of 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Weekly Outlook

EUR/JPY rose further to 144.06 last week but retreated well ahead of 145.62 high. Initial bias stays neutral this week first. On the upside, firm break of 145.62 resistance will resume larger up trend. However, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg towards 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 (2016 low) should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.55; (P) 142.51; (R1) 143.05; More….

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, firm break of 145.62 resistance will resume larger up trend. However, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 142.27; (P) 143.18; (R1) 143.92; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, firm break of 145.62 resistance will resume larger up trend. However, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 142.61; (P) 143.34; (R1) 144.70; More….

Intraday bias in EUR/JPY remains mildly on the upside. Rise from 137.32 should target retesting 145.62 high. Firm break there will resume larger up trend. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.45; (P) 141.95; (R1) 142.54; More….

EUR/JPY’s break of 142.28 resistance confirms that pull back from 145.62 has completed at 137.32. Intraday bias is back on the upside for retesting 145.62. Firm break there will resume larger up trend. On the downside, break of 140.77 minor support will turn bias back to the downside, to extend the corrective pattern from 145.62 with another falling leg.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.03; (P) 141.66; (R1) 142.53; More….

Intraday bias in EUR/JPY stays neutral first, with focus on 142.28 resistance. Firm break there will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 140.38 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/JPY Weekly Outlook

EUR/JPY rebounded strongly after dipping to 137.32 last week, but stays below 142.28 resistance. Initial bias remains neutral this week first. On the upside, break of 142.28 will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 139.40 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.16; (P) 140.94; (R1) 142.46; More….

EUR/JPY’s rebound from 137.32 extends higher and focus is immediately on 142.29 resistance. Firm break there will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 139.40 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8774; (P) 0.8877; (R1) 0.8934; More…

EUR/GBP’s pull back from 0.9267 extends lower but stays above 0.8720 resistance turned support. Intraday bias remains neutral first. On the upside, above 0.9065 will turn bias back to the upside for 0.9267. Firm break there will resume larger rally to 0.9499 long term resistance. However, break of 0.8270 support will mix up the near term outlook.

In the bigger picture, rise from 0.8201 is in progress targeting 0.9499 (2020 high) next. Based on current momentum, such rally should be resuming the up trend from 0.6935 (2015 low). Firm break of 0.9499 will target 61.8% projection of 0.6935 to 0.9499 from 0.8201 at 0.9786, which is close to 0.9799 (2008 high). This will now remain the favored case as long as 0.8720 resistance turned support holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.78; (P) 139.59; (R1) 141.12; More….

EUR/JPY’s consolidation from 1 37.32 is still in progress and intraday bias stays neutral. On the downside, break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, break of 142.28 will turn bias back to the upside for retesting 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.