Daily Pivots: (S1) 121.26; (P) 121.69; (R1) 122.45; More….

Intraday bias in EUR/JPY is mildly on the upside for the moment. Consolidation from 120.78 is in progress with rise from 120.95 as the third leg. Upside should be limited below 123.73 resistance to bring fall resumption eventually. On the downside, firm break of 120.78 will resume the decline from 127.50 and target 118.62 low next.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. 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.

Daily Pivots: (S1) 119.09; (P) 120.04; (R1) 121.27; More….

Intraday bias in EUR/JPY remains neutral and outlook is unchanged. 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) 138.17; (P) 140.27; (R1) 141.59; More….

Intraday bias in EUR/JPY is back on the downside as fall from 144.26 resumes. Sustained break of 137.83 support will raise the chance of rejection by 144.06 long term projection level and target 132.63 support. On the upside, above 142.36 minor resistance will bring retest of 144.26 high instead.

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). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will remain bullish as long as 132.63 support holds, in case of deep pull back.

Daily Pivots: (S1) 126.44; (P) 126.77; (R1) 126.98; More….

EUR/JPY is staying in consolidation from 127.48 and intraday bias remains neutral 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, towards 125.13 resistance turned support 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.

Daily Pivots: (S1) 126.99; (P) 127.15; (R1) 127.32; More….

EUR/JPY rises to as high as 127.59 so far today and break of 127.48 indicates resumption of whole up trend from 114.42. Intraday bias in back on the upside for 128.67 long term fibonacci level next. Sustained break there will confirm medium term upside momentum and target 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. On the downside, break of 126.97 minor support will turn bias neutral and bring some consolidations 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 125.07 support holds. Next target is 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67. Sustained trading above there will indicate solid upside momentum and target 137.49 next. This will remain the favored case as long as 121.63 support holds.

Daily Pivots: (S1) 118.89; (P) 119.44; (R1) 119.89; More….

Intraday bias in EUR/JPY remains neutral first. Further decline remains mildly in favor with 121.39 resistance intact. larger rebound from 115.86 should have completed at 122.87. Break of 118.37 will target 100% projection of 122.87 to 118.46 from 121.39 at 116.98 next. However, firm break of 121.39 will revive near term bullishness and bring retest of 122.87 resistance first.

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 just rejected by 55 week EMA. Break of 115.86 will extend the down trend from 137.49 (2018 high) to 114.84 support next.

Daily Pivots: (S1) 120.80; (P) 120.97; (R1) 121.26; More….

Intraday bias in EUR/JPY remains on the upside at this point. Current rise from 115.86 should target 161.8% projection of 115.86 to 120.01 from 117.07 at 123.78 next. On the downside, below 120.67 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. Decisive of 120.78 support turned resistance will affirm this case and bring further rise to falling channel resistance (now at 126.00). Reactions from there would decide whether the medium term has reversed. For now, further rise is expected as long as 117.07 support holds.

EUR/JPY turned into consolidation below 161.84 last week. Initial bias remains neutral this week first. While another dip cannot be ruled out, further rally is expected as long as 158.55 resistance turned support holds. Break of 161.84 will resume the rebound from 153.15 to retest 164.29 high.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 only. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage.

In the long term picture, rise from 114.42 (2020 low) is seen as the third leg of the whole up trend from 94.11 (2012 low). Next target is 100% projection of 94.11 to 149.76 from 114.42 at 170.07 which is close to 169.96 (2008 high). This will remain the favored case as long as 148.48 resistance turned support holds.

Daily Pivots: (S1) 131.97; (P) 132.60; (R1) 132.93; More….

EUR/JPY break of 132.03 minor support suggests that corrective rise from 128.94 has completed at 133.47 already, on bearish divergence condition in 4 hour MACD. Intraday bias is turned back to the downside for retesting 128.94 low first. Break will resume whole decline3 from 137.49. In case of another rise, we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside and bring fall resumption eventually.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

EUR/JPY dropped sharply to 124.09 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some consolidations first. Current development suggests corrective pattern from 127.50 is extending with fall from 126.79 as the third leg. Upside of recovery from 124.09 should be limited by 125.28 resistance to bring another fall. On the downside, below 124.09 will target 123.65 support. Nevertheless, break of 125.28 will turn bias back to the upside.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

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 109.03 low. On the upside, break of 133.12 resistance bring retest of 149.76 (2014 high).

Daily Pivots: (S1) 117.09; (P) 117.63; (R1) 117.99; More….

Intraday bias in EUR/JPY remains on the downside at this point. Current down trend is targeting 114.84 medium term support next. On the upside, above 118.33 minor resistance will turn intraday bias neutral and bring more consolidations, before staging another fall.

In the bigger picture, down trend from 137.49 (2018 high) is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 123.35 resistance is needed to the first sign medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 144.84; (P) 146.12; (R1) 148.45; More….

EUR/JPY is staying in consolidation below 148.48 short term top and intraday bias remains neutral. Downside of retreat should be contained by 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.

Daily Pivots: (S1) 123.79; (P) 124.07; (R1) 124.48; More….

Intraday bias in EUR/JPY remains mildly on the upside for 125.13 resistance. Firm break there will revive the case that correction from 127.07 has completed. Further rally would be seen back to retest this high. On the downside, though, break of 122.84 will turn bias back to the downside for 121.63 support instead.

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) 132.41; (P) 132.84; (R1) 133.18; More….

At this point, EUR/JPY cannot sustain below 132.04 cluster support (23.6% retracement of 114.84 to 137.49 at 132.14) yet. Intraday bias remains neutral first. Deeper fall is still expected with 134.16 resistance intact. Decisive break of 132.04/14 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 134.16 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.

Daily Pivots: (S1) 125.87; (P) 126.17; (R1) 126.73; More….

A temporary low is in place at 125.52 in EUR/JPY with the current recovery. Intraday bias is turned neutral for consolidation first. But near term outlook will remain bearish as long as 127.63 resistance holds. On the downside, below 125.52 will target 124.08/89 support zone next.

In the bigger picture, with the current decline, focus would be back on 124.08 key resistance turn supported holds. As long as 124.08 key resistance turn supported holds, larger up trend from 109.03 (2016 low) could still resume. 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.

Daily Pivots: (S1) 135.00; (P) 135.84; (R1) 136.78; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 137.50 is extending. Overall, further rally is expected with 133.70 minor support intact. On the upside, sustained break of 137.49 resistance will resume larger up trend for 144.06 projection level next. However, firm break of 133.70 will indicate short term topping, and turn bias back to the downside for deeper pull back.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Sustained break of 137.49 (2018 high) will resume larger 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.

Daily Pivots: (S1) 129.55; (P) 129.63; (R1) 129.77; More….

EUR/JPY’s rebound from 127.91 short term bottom resumes after brief consolidations. Intraday bias is back on the upside for 130.54 resistance. Sustained break there will argue that whole correction from 134.11 has completed and turn near term outlook bullish. Nevertheless, on the downside, below 129.14 minor support will turn bias back to the downside for retesting 127.91 low instead.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. As long as 127.07 resistance turned support holds, further rise is still expected to retest 137.49 (2018 high). However, firm break of 127.07 will argue that the medium term trend has reversed, deeper fall would be seen to 61.8% retracement of 114.42 to 134.11 at 121.94.

Daily Pivots: (S1) 118.04; (P) 118.39; (R1) 118.69; More….

EUR/JPY drops mildly today but stays above 117.67 temporary low. Intraday bias remains neutral for the moment and more consolidations could be seen. But even in case of another recovery, upside should be limited below 120.05 support turned resistance to bring fall resumption. On the downside, break of 117.67 will resume recent fall from 127.50 to 114.84 support next.

In the bigger picture, down trend from 137.49 is still in progress. It’s seen as a falling leg of multi-year sideway pattern. Deeper fall could be seen to 109.48 (2016 low and below). On the upside, break of 127.50 resistance is needed to be the confirm medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 128.58; (P) 128.82; (R1) 129.18; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral first. As long as 130.14 resistance holds, deeper decline is in favor in the cross. Below 127.49 will target 126.63 support first. Break there will resume whole fall from 133.12 and target 124.08/89 support zone. On the upside, however, break of 130.14 will resume the rebound from 126.63 towards 133.12 resistance.

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.

Daily Pivots: (S1) 121.97; (P) 122.52; (R1) 123.09; More….

EUR/JPY is staying in consolidation from 121.63 temporary low and intraday bias remains neutral first. 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.