Daily Pivots: (S1) 131.45; (P) 131.66; (R1) 132.04; More….

EUR/JPY’s rally continues today and reaches as high as 132.47 so far. Intraday bias remains on the upside for retesting 134.11 high. Decisive break there will resume larger up trend from 114.42. Next target is 61.8% projection of 121.63 to 134.11 from 127.91 at 135.62. On the downside, below 131.48 minor support will turn turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 44 week EMA affirms medium term bullishness. Further rise would be seen to retest 137.49 (2018 high). Decisive break there will resume the whole long term rise from 109.03 (2016 low). Next target will be 100% projection of 109.03 to 137.49 from 114.42 at 142.88. This will now remain the favored case as long as 127.91 support holds.

Daily Pivots: (S1) 156.92; (P) 157.41; (R1) 158.10; More….

Intraday bias in EUR/JPY remains neutral for the moment. Risk will be mildly on the downside as long as 158.64 resistance holds. Break of 156.57 support, and sustained trading below 55 D EMA (now at 156.73) will argue that fall from 159.75 is a larger scale correction. Deeper decline would be seen back towards 151.39 support. Nevertheless, above 158.64 would bring retest of 159.75 high instead.

In the bigger picture, as long as 151.39 support holds, rise from 114.42 is still expected to continue. Next target is 100% projection of 124.37 to 148.38 from 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96.

Daily Pivots: (S1) 120.36; (P) 120.85; (R1) 121.37; More….

Intraday bias in EUR/JPY remains on the upside at this point. Firm break of 100% projection of 115.86 to 120.01 from 117.07 at 121.16 will target 161.8% projection at 123.78. On the downside, break of 119.74 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, current development argues that a medium term bottom is formed at 115.86, on bullish convergence condition in daily MACD, ahead of 114.84 support. Break of 120.78 support turned resistance will affirm this case and bring further rise to falling channel resistance (now at 126.10). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.

Daily Pivots: (S1) 123.71; (P) 123.90; (R1) 124.15; More….

EUR/JPY is staying in range of 123.01/125.08 and intraday bias remains neutral first. On the upside, break of 125.08 will target a retest on 127.07 high. On the downside, below 123.01 will target 38.2% retracement of 114.42 to 127.07 at 122.23. Firm break there will confirm resumption of whole corrective fall from 127.07.

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.

Daily Pivots: (S1) 155.64; (P) 156.13; (R1) 156.39; More….

Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, above 157.19 temporary top will resume the rebound from 153.32 to retest 157.99 high. Firm break there will resume larger up trend. On the downside, below 154.86 minor support should resume the corrective fall from 157.99 through 153.32 support, to 55 D EMA (now at 153.10) and below.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

Daily Pivots: (S1) 156.90; (P) 157.42; (R1) 158.44; More….

Intraday bias in EUR/JPY remains on the upside at this point. Current up trend should target 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. On the downside, break of 155.74 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

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) 118.00; (P) 118.85; (R1) 119.50; More….

No change in EUR/JPY’s outlook and intraday bias remains neutral for the moment. Consolidation from 115.86 could extend with another rise. On the upside, break of 121.39 will target 122.87 resistance. On the downside, sustained break of 115.86 will indicate larger down trend resumption.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). As long as 122.87 resistance holds, the down trend should resume sooner or later to 114.84 support next. However, sustained break of 122.87 will complete a double bottom (115.86, 116.12) which could indicate medium term bullish reversal.

Daily Pivots: (S1) 147.27; (P) 147.63; (R1) 148.11; More….

EUR/JPY’s rally finally resumes and the break of 148.38 resistance should now confirms resumption of larger up trend. Intraday bias is back on the upside for 149.76 long term resistance next. Break will target 153.64 projection level. Meanwhile, outlook will now stay bullish as long as 146.27 support holds, in case of retreat.

In the bigger picture, as long as 55 W EMA (now at 140.70) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance (2014 high). Decisive break there will resume long term up trend from 94.11 (2012 low). Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. This will remain the favored case as long as 138.81 support holds.

EUR/JPY rebounded strongly last week but upside was held firmly below 125.08 resistance. Initial bias is neutral first. On the upside, break of 125.08 will resume the rebound form 122.37 to retest 127.07. Nevertheless, break of 123.01 will argue that correction from 127.07 is possibly extending with another falling leg. Intraday bias will be turned back to the downside for 38.2% retracement of 114.42 to 127.07 at 122.23.

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.

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.

Daily Pivots: (S1) 128.27; (P) 128.51; (R1) 128.97; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. On the downside, firm break of 127.36 will resume fall from 133.44 and larger pattern from 134.11. Next target is 126.58 medium term fibonacci level. For now, outlook will stay bearish as long as 129.62 resistance holds, in case of stronger recovery.

In the bigger picture, as long as 38.2% retracement of 114.42 (2020 low) to 134.11 at 126.58 holds, up trend from 114.42 is still in favor to continue. Break of 134.11 will target long term resistance at 137.49 (2018 high). However, sustained break of 126.58 will raise the chance of medium term bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

Daily Pivots: (S1) 149.07; (P) 149.55; (R1) 150.45; More….

Range trading continues in EUR/JPY and intraday bias remains neutral first. On the downside, below 148.58 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.

Daily Pivots: (S1) 128.70; (P) 129.08; (R1) 129.73; More….

Intraday bias in EUR/JPY is turned neutral as the rebound from 128.28 quickly lost momentum. 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).

Daily Pivots: (S1) 124.68; (P) 125.24; (R1) 125.91; More…

EUR/JPY rises to as high as 125.80 so far but lose some upside momentum ahead of 126.09 resistance. Intraday bias is turned neutral for consolidation. But near term outlook remains bullish as long as 123.30 support holds. Rise from 114.84 is part of the medium term rebound from 109.03. Break of 126.09 key resistance will target 100% projection of 109.03 to 124.08 from 114.84 at 129.89. Nonetheless, break of 123.30 will indicate short term topping and bring lengthier consolidation before another rally.

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.

Daily Pivots: (S1) 129.61; (P) 129.88; (R1) 130.41; More….

EUR/JPY’s rebound from 127.36 resumed and hit as high as 130.21 so far. Current development suggests that whole consolidation from 134.11 has completed with three waves down to 127.36, ahead of 126.58 medium term fibonacci level. Intraday bias is back on the upside for retesting 133.44/134.11 resistance zone. On the downside, however, break of 129.25 minor support will dampen this bullish view and turn intraday bias neutral first.

In the bigger picture, as long as 38.2% retracement of 114.42 (2020 low) to 134.11 at 126.58 holds, up trend from 114.42 is still in favor to continue. Break of 134.11 will target long term resistance at 137.49 (2018 high). However, sustained break of 126.58 will raise the chance of medium term bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

Daily Pivots: (S1) 130.98; (P) 131.44; (R1) 131.78; More….

Intraday bias in EUR/JPY is turned neutral first with current recovery. Outlook is unchanged that corrective pattern from 134.11 is extending with another falling leg. Break of 130.03 will bring deeper fall to 128.23 support first. Break will target 127.36 support and below. On the upside break of 133.13 will bring retest of 134.11 high.

In the bigger picture, price actions from 134.11 are currently seen as a consolidation pattern only. As long as 38.2% retracement of 114.42 (2020 low) to 134.11 at 126.58 holds, up trend from 114.42 is still in favor to continue. Break of 134.11 will target long term resistance at 137.49 (2018 high). However, sustained break of 126.58 will raise the chance of bearish reversal. In this case, deeper decline would be seen to 61.8% retracement at 121.94, and possibly below.

Daily Pivots: (S1) 117.13; (P) 118.18; (R1) 118.81; More….

Rejection but falling 4 hour 55 EMA is a sign of near term bearishness. But EUR/JPY is holding above 115.86/116.12 support zone. Intraday bias remains neutral first. Downside breakout in in favor and sustained trading below 115.86 will confirm resumption of larger down trend from 137.49. Nevertheless, break of 121.39 resistance will turn bias back to the upside for 122.87 resistance.

In the bigger picture, outlook remains bearish as the cross is staying well inside falling channel established since 137.49 (2018 high). It was also rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 109.48 (2016 low) next.

EUR/JPY rose to 142.31 last week but reversed from there. The development suggests that correction pattern from 144.23 is extending with another falling leg. Initial bias stays mildly on the downside this week for 136.85 support. On the upside, above 140.68 minor resistance will turn bias back to the upside for 142.31 resistance instead.

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.

In the long term picture, current rally could be resuming whole rise from 94.11 (2012 low). Further rally would be seen to 149.76 resistance (2014 high) and above. This will remain the favored case as long as 134.11 resistance turned support holds.

Daily Pivots: (S1) 128.02; (P) 128.62; (R1) 129.12; More….

Outlook in EUR/JPY remains unchanged for the moment. Another decline is expected to 126.63 support. Break there will resume whole fall from 133.12 and target 124.61/89 support zone. On the upside, break of 130.14 resistance is now needed to confirm rise resumption. Otherwise, near term outlook will stay cautiously bearish in case of recovery.

In the bigger picture, as long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. However, decisive break of 124.08 will argue that such rise from 109.03 has completed and turn outlook bearish. In that case, deeper fall would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90.

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) 129.16; (P) 129.60; (R1) 129.91; More….

EUR/JPY’s rise from 124.37 continues today and intraday bias stays on the upside. The corrective pattern from 134.11 could have completed at 124.37 already. Further rise should be seen to 133.13/134.11 resistance zone next. On the downside, break of 129.30 minor support will mix up the outlook and turn intraday bias neutral first.

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.