EUR/JPY Daily Outlook

Daily Pivots: (S1) 125.23; (P) 125.98; (R1) 126.86; More….

Intraday bias in EUR/JPY remains neutral for consolidation above 124.37. Some consolidations could be seen but upside should be limited by 127.90 support turned resistance to bring another fall. On the downside, break of 124.37 will resume the decline from 133.13 to 121.94 medium term fibonacci level.

In the bigger picture, current development suggests that whole rise from 114.42 (2020 low) has completed 134.11 already. Fall from there is developing into a medium term down trend. Next target is 61.8% retracement of 114.42 to 134.11 at 121.94. On the upside, firm break of 127.36 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 138.93; (P) 139.47; (R1) 140.00; More….

EUR/JPY’s rise from 133.38 is still in progress. Intraday bias stays on the upside for 100% projection of 133.38 to 138.38 from 135.50 at 140.50. Decisive break there will indicate upside acceleration, and raise the chance of up trend resumption through 144.26 high. On the downside, below 138.24 minor support will turn intraday bias neutral again.

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.

EUR/JPY Weekly Outlook

EUR/JPY stayed in the corrective pattern from 139.99 last week and outlook is unchanged. Initial bias stays neutral this week first. On the downside, break of 132.63 will target 61.8% retracement of 124.37 to 139.99 at 130.33. On the upside, break of 138.33 will indicate that the correction has completed, and bring retest of 139.99 high next.

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). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.

In the long term picture, focus stays on 137.49 resistance (2018 high). Sustained break there will raise the chance that whole rise from 94.11 (2012 low) is resuming through 149.76 resistance. This will be a slightly favored case for now, as long as 124.37 support holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 135.94; (P) 136.33; (R1) 136.82; More….

Intraday bias in EUR/JPY stays neutral at this point. Corrective pattern from 139.99 could still extend. On the downside, break of 132.63 will target 61.8% retracement of 124.37 to 139.99 at 130.33. On the upside, break of 138.33 will indicate that the correction has completed, and bring retest of 139.99 high next.

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). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.

EUR/JPY Weekly Outlook

EUR/JPY edged higher to 127.48 last week but retreated since then. Initial bias is turned neutral this week first. Outlook will stay bullish as long as 126.03 support holds. Break of 127.48 will resume larger rise from 114.42. Next target is 128.67 medium term fibonacci level. However, firm break of 126.03 will suggest short term topping. Intraday bias will be turned back to the downside for 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 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.83; (P) 141.23; (R1) 141.70; More….

EUR/JPY is still bounded in range of 137.37/142.84 and intraday bias stays neutral. On the downside, break of 137.37 will resume the 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 138.81) 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.06; (P) 124.46; (R1) 124.81; More….

At this point, we’re still looking at strong resistance around 124.61 to limit the rebound from 118.62. And, on the downside, On the downside, break of 122.84 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds. Sustained break of 124.61 will mix up the outlook and we’ll reassess on the final structure of the rebound from 118.62.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.54; (P) 122.87; (R1) 123.20; More….

EUR/JPY is staying in consolidation from 122.08 temporary low. Intraday bias remains neutral first. Another recovery could be seen. But upside should be limited by 124.09 support turned resistance to bring fall resumption. On the downside, break of 122.08 will target a test on 118.62 low.

In the bigger picture, current development argues that rebound from 118.62 is merely a correction and has completed at 127.50. EUR/JPY is staying in long term falling channel from 137.49 (2018 high). Decisive break of 118.62 will confirm resumption of this medium term fall and target 109.20 low. For now, this will be the favored case as long as 125.23 resistance holds.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 139.37; (P) 140.29; (R1) 141.58; More….

EUR/JPY is still bounded in range of 137.37/142.84 and intraday bias remains neutral. On the downside, break of 137.37 will resume the 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 138.62) 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 132.52; (P) 133.15; (R1) 133.79; More….

Intraday bias in EUR/JPY remains neutral for the moment. Deeper fall is still expected with 134.79 resistance intact. Decisive break of 132.04 cluster support (23.6% retracement of 114.84 to 137.49 at 132.14) will indicate larger trend reversal on bearish divergence condition in daily MACD. In such case, outlook will be turned bearish for 38.2% retracement at 128.38 first. Nonetheless, rebound from 132.04 will retain near term bullishness. Break of 134.79 minor resistance will bring retest of 137.49 high instead.

In the bigger picture, bearish divergence condition in week EMA indicates lost up medium term up trend momentum. But there is no clear sign of completion of up trend from 109.03 yet. Break of 137.49 will target 141.04/149.76 resistance zone. However, sustained break of 132.04 will be the early sign of long term reversal and should bring deeper fall back to retest 124.08 key support level.

EUR/JPY 4 Hours Chart

EUR/JPY Daily Chart

EUR/JPY Daily Outlook

Daily Pivots: (S1) 146.55; (P) 147.16; (R1) 147.60; More….

Intraday bias in EUR/JPY stays neutral as consolidation from 148.38 is extending. In case of another fall, downside should be contained 140.88/144.06 support zone to bring another rally. Break of 148.38 will resume larger up trend to 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.76 (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) 117.38; (P) 117.74; (R1) 118.26; More….

Intraday bias in EUR/JPY stays neutral at this point. With 118.47 resistance intact, further decline is expected. Corrective recovery from 115.86 should have completed at 120.01. Break of 117.07 will target a retest on 115.86 low. On the upside, above 118.47 minor resistance will turn bias back to the upside for 120.01 resistance instead.

In the bigger picture, as long as 120.78 support turned resistance holds, down trend from 137.49 (2018 high) should still be in progress. Break of 115.86 will target 109.48 (2016 low) and below. However, sustained break of 120.78 will be the first indication of medium term reversal. Further rise would then be seen to 127.50 resistance for confirmation.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 144.14; (P) 144.59; (R1) 144.88; More….

Intraday bias in EUR/JPY remains neutral for the moment. Further rally is expected as long as 142.13 support holds. Corrective fall from 148.38 has completed at 137.37 already. Break of 145.55 will resume the rise from 137.37 to 146.71 resistance and then 148.38 high.

In the bigger picture, as long as 55 week EMA (now at 139.42) 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.

EUR/JPY Weekly Outlook

EUR/JPY surged to as high as 133.08 last week as medium term rise resumed. Initial bias stays on the upside this week for 134.20 fibonacci level. Sustained break there will target 141.04 resistance next. On the downside, break of 130.60 support is needed to indicate short term topping. Otherwise outlook will remain bullish in case of retreat.

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). as long as 124.08 resistance turned support holds, 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. ON the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

In the long term picture, at this point, there is no clear indication that rise from 109.03 is resuming that from 94.11. Hence, we’d be cautious on topping below 149.76 to extend range trading. Nonetheless, firm break of 149.76 will indicates strong underlying buying. In such case, EUR/JPY will target 100% projection of 94.11 to 149.76 from 109.03 at 164.68.

EUR/JPY 4 Hours Chart

EUR/JPY Daily Chart

EUR/JPY Weekly Chart

EUR/JPY Monthly Chart

EUR/JPY Weekly Outlook

EUR/JPY turned into consolidation last week. Initial bias stays neutral this week and further fall remains in favor with 122.11 minor resistance intact. On the downside, break of 119.31 will resume the fall from 124.43 to 61.8% retracement of 114.42 to 124.43 at 118.24. However, break of 122.11 will turn bias back to the upside for retesting 124.43 instead.

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

In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Sustained break of 55 month EMA (now at 124.50) should confirm the start of another medium term rising leg.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 130.82; (P) 131.41; (R1) 132.23; More….

We’re favoring the case that a short term bottom is formed at 129.34 already, on bullish convergence condition in 4 hour MACD. Further rise is now expected to 38.2% retracement of 137.49 to 129.34 at 132.45. Break will target 61.8% retracement at 134.37. However, decline 137.49 shouldn’t be finished yet. We’d still expect another fall at a later stage. And break of 129.34 will pave the way to 126.61 medium term fibonacci level

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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 122.06; (P) 122.62; (R1) 123.03; More….

Intraday bias in EUR/JPY remains neutral at this point as it’s staying in consolidation from 121.63 temporary low. Deeper decline would remain in favor as long as 125.08 resistance holds, even in case of strong recovery. Break of 121.63 will resume the fall from 127.07, to 61.8% retracement of 114.42 to 127.07 at 119.25, which is close to 119.31 key 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 119.31 support holds. Break of 127.07 will target 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 next. However, firm break of 119.31 will argue that the rise from 114.42 has completed and turn focus back to this low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.53; (P) 124.80; (R1) 125.14; More…

Intraday bias in EUR/JPY remains neutral as the consolidation from 125.80 continues. Deeper fall cannot be ruled out down we’d expect downside to be contained by by 38.2% retracement of 114.84 to 125.80 at 121.61 to bring rise resumption. We’re staying mildly bullish in the cross. And, break of 126.09 key resistance will extend the whole rebound from 109.03 to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. Nonetheless, firm break of 121.61 will dampen our bullish view and bring deeper fall to 61.8% retracement at 119.02.

In the bigger picture, focus is back on 126.09 support turned resistance. Decisive break there will confirm completion of the down trend from 149.76. And in such case, rise from 109.20 is at the same degree and should target 141.04 resistance and above. Meanwhile, rejection from 126.09 and break of 114.84 will extend the fall from 149.76 through 109.20 low.

EUR/JPY 4 Hours Chart

EUR/JPY Daily Chart

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.41; (P) 140.72; (R1) 141.15; More….

Range trading continues in EUR/JPY and intraday bias stays neutral. On the upside, decisive break of 142.84 will argue that the correction from 148.38 has completed at 137.37 already. Further rise would be seen to 146.71 resistance next. On the downside, firm break of 155.33 will resume the whole decline from 148.38 to 135.40 fibonacci level.

In the bigger picture, as long as 55 week EMA (now at 138.82) 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 124.61; (P) 124.95; (R1) 125.47; More….

EUR/JPY rebounds further today but stays in range of 124.17/125.95. Intraday bias remains neutral first. At this point, we’re favoring the case that rebound from 118.62 has completed at 125.95 already, just ahead of 55 day EMA. On the downside, break of 123.78 will add more credence to this case and target a test on 118.62 low. On the upside, however, decisive break of 125.95 will dampen out bearish view and target 129.25 resistance next.

In the bigger picture, medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.49 is likely still in progress. Decisive break of 118.62 will target 161.8% projection of 137.49 to 124.61 from 133.12 at 112.28, which is inside 109.03/114.84 support zone.