Daily Pivots: (S1) 161.30; (P) 161.86; (R1) 162.48; More….

Intraday bias in EUR/JPY is back on the upside with break of 162.42 minor resistance. Retest of 164.29 resistance should be seen next. Firm break there will resume larger up trend. On the downside, though, below 161.22 will resume the fall from 164.29 to 159.75 resistance turned support.

In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 169.96 (2008 high). On the downside, break of 159.75 resistance turned support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.

Daily Pivots: (S1) 157.81; (P) 158.38; (R1) 159.07; More….

EUR/JPY’s rise from 154.32 resumed by breaking 158.60 and intraday bias is back on the upside. Further rally should be seen to retest 159.75 next. Decisive break there will resume larger up trend. On he downside, break of 157.03 support is needed to signal completion of the rebound. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, price actions from 159.75 are views as a corrective pattern. As long as 151.39 support holds, rise from 114.42 (2020 low) is expected to continue through 159.75 at a later stage. Nevertheless, firm break of 151.39 will confirm medium term topping, and bring lengthier and deeper correction.

Daily Pivots: (S1) 144.82; (P) 145.48; (R1) 146.72; More….

Intraday bias in EUR/JPY stays neutral first and consolidation from 148.38 could extend. In case of deeper fall, downside should be contained by 55 day EMA (now at 143.27) to bring rise resumption. On the upside, break of 148.38 will resume larger up trend to 149.76 long term resistance next.

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) 163.15; (P) 163.98; (R1) 164.48; More…

Intraday bias in EUR/JPY remains neutral for the moment. Downside of current retreat should be contained by 55 4H EMA (now at 163.27) to bring rebound. On the upside, break of 165.33 will resume larger up trend to 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71. However, sustained break of 55 4H EMA will turn bias to the downside for deeper fall to 160.20 support instead.

In the bigger picture, current rally is part of the up trend from 114.42 (2020 low), which is still in progress. Next target is 169.96 (2008 high). Break of 160.20 support is needed to be the first sign of medium term topping. Otherwise, outlook will stay bullish in case of retreat.

Daily Pivots: (S1) 136.10; (P) 137.02; (R1) 137.65; More….

Intraday bias in EUR/JPY remains neutral as sideway trading continues. On the upside, break of 138.38 resistance will resume the rebound from 133.38 towards 142.31 resistance. On the downside, break of 134.93 will turn bias back to the downside for 133.38 support. Overall, corrective pattern from 144.26 could extend further with more choppy trading.

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.

Daily Pivots: (S1) 160.54; (P) 161.08; (R1) 161.88; More…

Intraday bias in EUR/JPY stays neutral at this point. On the downside, below 160.20 will resume the fall from 163.70 to 38.2% retracement of 153.15 to 163.70 at 159.66. Sustained break there will indicate that fall from 163.70 is reversing whole rise from 153.13, and target 61.8% retracement at 157.18. On the upside, though, above 162.16 minor resistance will retain near term bullishness, and bring retest of 163.70.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 which could still be extending. As long as 148.38 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. Next target would be 169.96 (2008 high).

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).

Daily Pivots: (S1) 121.64; (P) 121.92; (R1) 122.27; More….

EUR/JPY recovered mildly after hitting 121.58 and intraday bias is turned neutral for some consolidations first. Upside of recovery should be limited below 123.73 resistance. Fall from 127.50 is still in progress. Break of 121.58 will resume the decline for a test on 118.62 low next.

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’s corrective fall extended lower to 119.24 last week, but recovered strongly ahead of 119.11 support. Initial bias remains neutral this week first. We’d still expect downside to be contained by 119.11 to bring rise resumption. On the upside, break of 120.63 minor resistance will turn bias to the upside for 121.46 first. Break will resume whole rise from 115.86 to 123.35 structural resistance. However, firm break of 119.11 will argue that rise from 115.86 has completed. Intraday bias will be turned to the downside for 117.07 support.

In the bigger picture, a medium term bottom should be 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 125.32). Reactions from there would decide whether the medium term trend has reversed. For now, further rise is expected as long as 117.07 support holds.

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. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA (now at 125.93), this is the preferred case.

EUR/JPY’s rebound last week was limited below 136.36 and retreated. As it’s bounded in range of 133.03/136.63, initial bias remains neutral this week first. For the moment, outlook stays bullish as long as 133.03 support holds and another rise is in favor. Break of 136.63 will resume medium term up trend. However, on the downside, break of 133.03 will have 55 day EMA and medium term channel support firmly taken out. Also, considering bearish divergence condition in daily MACD too, that will suggest medium term reversal. Deeper fall should then be seen to 132.04 support for confirmation.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). It should be targeting 141.04/149.76 resistance zone. On the downside, break of 132.04 support is needed to indicate medium term reversal. Otherwise, outlook will stay bullish in case of deep pull back.

In the long term picture, at this point, there is no clear indication that rise from 109.03 is resuming that from 94.11 (2012 low). 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’s fall from 134.11 accelerated lower last week and the development suggests that it’s correcting whole rise from 121.63 to 134.11. Initial bias stays on the downside this week for 38.2% retracement of 121.63 to 134.11 at 129.34. We’d expect strong support from there to bring rebound. On the upside, above 131.41 minor resistance will turn intraday bias neutral first.

In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. 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). For now, outlook will stay bullish as long as 127.07 resistance turned support holds, in case of pull back.

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.

Daily Pivots: (S1) 130.33; (P) 130.74; (R1) 131.05; More….

EUR/JPY rebounded strongly ahead of 129.22 support and intraday bias is turned neutral first. Near term outlook stays bearish with 131.36 resistance intact and deeper decline is expected. Below 129.22 will target 128.94 first. Break there will resume the corrective fall from 137.49 and target 61.8% projection of 137.49 to 128.94 from 133.47 at 128.18, and possibly further to 126.61 medium term fibonacci level.

In the bigger picture, for now, price actions from 137.49 are viewed as a corrective pattern only. Hence, while deeper decline would be seen, strong support is expected at 38.2% retracement of 109.03 to 137.49 at 126.61 to contain downside and bring rebound. Up trend from 109.03 (2016 low) is expected to resume afterwards. Though, sustained break of 126.61 will be an important sign of trend reversal and will turn focus to 124.08 resistance turned support.

Daily Pivots: (S1) 124.68; (P) 125.08; (R1) 125.34; More….

Intraday bias in EUR/JPY remains neutral with focus on 124.36 minor support. Firm break there will argue that the rebound from 118.62 has completed and turn bias to the downside for retesting 118.62 low. On the upside, in case of another rise, we’d stay cautious on strong resistance from 55 day EMA (now at 126.07) to limit upside.

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 possibly just the second leg of the corrective pattern from 109.03. Break of 133.12 resistance should start the third leg to 137.49 and above. Nevertheless, break of 118.62 will resume the decline from 137.49 for 109.03/114.84 support zone instead.

Daily Pivots: (S1) 153.76; (P) 154.52; (R1) 155.94; More….

Intraday bias in EUR/JPY stays on the upside as up trend is in progress. Next target is 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, below 153.08 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 148.38 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 133.60; (P) 133.83; (R1) 134.02; More….

Intraday bias in EUR/JPY is turned neutral for moment, but further rise is still expected with 132.51 support intact. Sustained break of 100% projection of 114.42 to 127.07 from 121.63 at 134.28 will extend the up trend from 114.42 to 137.49 long term resistance next. On the downside, break of 132.51 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 130.65 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).

Daily Pivots: (S1) 119.67; (P) 120.05; (R1) 120.79; More…..

A temporary low is formed in EUR/JPY at 119.31 with current recovery. intraday bias is turned neutral first. Fall form 124.43 short term top is still in favor to continue as long as 122.11 resistance holds. Break of 119.31 will target 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 119.22) holds. However, sustained break of 55 day EMA will revive medium term bearishness for another low below 114.42 at a later stage.

Daily Pivots: (S1) 124.04; (P) 124.46; (R1) 125.30; More…

EUR/JPY’s rally resumed by taking out 124.53 and reaches as high as 125.15 so far. Intraday bias is back on the upside. Current rise from 114.84 is part of the medium term rebound from 109.03 and should target 126.09 resistance first. Decisive break there will extend the rise to 100% projection of 109.03 to 124.08 from 114.84 at 129.89. On the downside, break of 123.30 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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) 126.00; (P) 126.31; (R1) 126.70; More….

EUR/JPY is staying in consolidation from 127.01 and intraday bias remains neutral for the moment. On the upside, firm break of 127.07 will resume whole rebound from 114.42. Next target is 128.67 medium term fibonacci level. On the downside, though, break of 125.70 support will turn bias to the downside, to extend the consolidation pattern from1 27.07 with another falling leg.

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. Sustained trading above there will target 137.49 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) 128.43; (P) 128.94; (R1) 129.33; More….

Intraday bias in EUR/JPY remains neutral at this point. Overall, we’re holding on to the view that corrective rebound from 124.61 could have completed with three waves up to 131.97 already. Break of 128.49 will extend the fall from 131.97 to 127.13 support for confirming this. Meanwhile, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of stronger than expected rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 124.57; (P) 124.97; (R1) 125.39; More…

EUR/JPY is still bounded in the consolidation pattern from 125.80 and intraday bias remains neutral. Another fall could be seen but downside should be contained 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.

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.