Daily Pivots: (S1) 120.71; (P) 121.17; (R1) 122.01; More…..

Intraday bias in EUR/JPY is turned neutral with today’s recovery. But further fall will remain in favor with 122.51 minor resistance intact. Sustained trading below 38.2% retracement of 114.42 to 124.43 at 120.60 will pave the way to 61.8% retracement at 118.24. On the upside, though, break of 122.51 minor resistance will turn bias back to the upside for retesting 124.43.

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 118.89) 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) 120.16; (P) 120.99; (R1) 121.72; More…..

As long as 122.51 minor resistance holds, fall from 124.43 short term top is still expected to continue. Sustained trading below 38.2% retracement of 114.42 to 124.43 at 120.60 will pave the way to 61.8% retracement at 118.24. On the upside, though, break of 122.51 minor resistance will turn bias back to the upside for retesting 124.43.

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

EUR/JPY’s sharp decline last week suggests that a short term top was formed at 124.43. Further decline would be in favor this week as long as 122.51 minor resistance holds. Firm break of 38.2% retracement of 114.42 to 124.43 at 120.60 will pave the way to 61.8% retracement at 118.24. On the upside, though, break of 122.51 minor resistance will turn bias back to the upside for retesting 124.43.

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 118.89) 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 124.62) should confirm the start of another medium term rising leg. In this case, we’d tentatively look at 100% projection of 109.48 to 137.49 from 114.42 at 142.43 as the medium term target.

Daily Pivots: (S1) 120.30; (P) 121.11; (R1) 121.56; More…..

EUR/JPY’s corrective fall from 124.42 extended to as low as 120.25. It recovered after breaching 38.2% retracement of 114.42 to 124.43 at 120.60. But there is no clear sign of bottoming yet. Sustained trading below 120.60 will pave the way to 61.8% retracement at 118.24. On the upside, though, break of 122.51 minor resistance will turn bias back to the upside for retesting 124.43.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

Daily Pivots: (S1) 121.52; (P) 121.94; (R1) 122.29; More…..

Intraday bias in EUR/JPY stays on the downside at this point. Correction from 124.43 short term top would extend to 38.2% retracement of 114.42 to 124.43 at 120.60. Some support could be seen there to bring rebound. On the upside, break of 124.43 will resume the rise from 114.42.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

Daily Pivots: (S1) 121.45; (P) 122.03; (R1) 122.73; More…..

Intraday bias in EUR/JPY remains mildly on the downside. Correction from 124.43 short term top would extend to 38.2% retracement of 114.42 to 124.43 at 120.60. Some support could be seen there to bring rebound. On the upside, break of 124.43 will resume the rise from 114.42.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

Daily Pivots: (S1) 121.75; (P) 122.94; (R1) 123.64; More…..

EUR/JPY’s sharp decline today and break of 121.84 minor support suggests short term topping at 124.43. Intraday bias is now back on the downside for pull back to 38.2% retracement of 114.42 to 124.43 at 120.60. Some support could be seen there to bring rebound. On the upside, break of 124.43 will resume the rise from 114.42.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

Daily Pivots: (S1) 123.36; (P) 123.89; (R1) 124.25; More…..

Intraday bias in EUR/JPY remains on the upside for the moment. Rise form 114.42 is in progress and should target. On the downside, break of 121.84 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

EUR/JPY’s rally accelerated to as high as 124.42 last week. Initial bias stays on the upside this week. Rise form 114.42 should target next fibonacci level at 128.67. On the downside, break of 121.84 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

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 124.62) should confirm the start of another medium term rising leg. In this case, we’d tentatively look at 100% projection of 109.48 to 137.49 from 114.42 at 142.43 as the medium term target.

Daily Pivots: (S1) 122.40; (P) 123.19; (R1) 124.53; More…..

EUR/JPY’s rally continues to accelerate and hits as high as 124.43 so far. The strong break of 122.87 resistance suggests larger bullish reversal. Intraday bias remains on the upside for next fibonacci level at 128.67. On the downside, break of 121.84 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the firm break of 122.87 resistance suggests that whole down trend from 137.49 (2018 high) has completed at 114.42. Current rally should now 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 118.45) holds.

Daily Pivots: (S1) 121.54; (P) 122.08; (R1) 122.90; More…..

Intraday bias in EUR/JPY remains on the upside at this point. Current rise from 114.42 should target 122.87 key resistance. On the downside, break of 121.24 minor support will turn intraday bias neutral first, before staging another rally.

In the bigger picture, the case of bullish trend reversal is starting to build up as rise from 114.42 is accelerating. Sustained trading below the channel resistance (now at 121.07), will argue that whole down trend from 137.49 (2018 high) has completed at 114.42. Further break of 122.87 resistance will confirm and turn outlook bullish.

Daily Pivots: (S1) 120.12; (P) 120.88; (R1) 122.12; More…..

EUR/JPY continues upside acceleration and hits as high as 122.04 so far today. Intraday bias stays on the upside for 122.87 key resistance next. On the downside, break of 121.24 minor support will turn intraday bias neutral first, before staging another rally.

In the bigger picture, the case of bullish trend reversal is starting to build up as rise from 114.42 is accelerating. Sustained trading below the channel resistance (now at 121.22), will argue that whole down trend from 137.49 (2018 high) has completed at 114.42. Further break of 122.87 resistance will confirm and turn outlook bullish.

Daily Pivots: (S1) 119.47; (P) 119.73; (R1) 120.02; More…..

EUR/JPY’s rally accelerates to as high as 121.22 so far today. As 121.14 resistance is taken out, further rise should be seen to 122.87 key resistance next. On the downside, break of 119.42 support is needed to indicate short term topping. Otherwise, further rally will remain in favor even in case of retreat.

In the bigger picture, the case of bullish trend reversal is starting to build up as rise from 114.42 is accelerating. Sustained trading below the channel resistance (now at 121.220, will argue that whole down trend from 137.49 (2018 high) has completed at 114.42. Further break of 122.87 resistance will confirm and turn outlook bullish.

Daily Pivots: (S1) 119.47; (P) 119.73; (R1) 120.02; More…..

Intraday bias in EUR/JPY remains mildly on the upside at this point. Current rise from 114.42 should at least be correcting the fall from 122.87. Further rally should be seen to 121.14 resistance next. Sustained break there will target 122.87 key resistance. On the downside, below 118.85 minor support will turn intraday bias neutral first. But further rise will remain in favor as long as 117.11 support holds.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 119.11; (P) 119.50; (R1) 120.14; More…..

Intraday bias in EUR/JPY remains on the upside for the moment. Rise from 114.42 is seen as at least correcting the fall from 122.87. Further rally should be seen to 121.14 resistance next. Sustained break there will target 122.87 key resistance. On the downside, below 118.85 minor support will turn intraday bias neutral first. But further rise will remain in favor as long as 117.11 support holds.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

EUR/JPY’s rise from 114.42 extended to as high as 119.90 last week. Initial bias remains on the upside this week. Such rise is seen as at least correcting the fall from 122.87 Further rise should be seen to 121.14 resistance next. Sustained break there will target 122.87 key resistance next. On the downside, below 118.85 minor support will turn intraday bias neutral first. But further rise will remain in favor as long as 117.11 support holds.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of 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. This falling leg would target 109.48 (2016 low). With EUR/JPY staying below 55 month EMA (now at 124.84), this is the preferred case.

Daily Pivots: (S1) 118.68; (P) 119.04; (R1) 119.59; More…..

EUR/JPY’s rise from 114.42 is still in progress and it should at least be correcting the fall from 122.87. Further rise should be seen to 121.14 resistance first. On the downside, though, break of 117.11 support will suggest completion of the rebound and turn bias back to the downside.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 117.89; (P) 118.40; (R1) 119.09; More…..

Intraday bias in EUR/JPY remains on the upside at this point. Current rise from 114.42 should at least be correcting the fall from 122.87. Next target will be 121.14 resistance first. On the downside, though, break of 117.11 support will suggest completion of the rebound and turn bias back to the downside.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 117.53; (P) 117.93; (R1) 118.53; More…..

EUR/JPY’s rise from 114.42 resumes today by taking out 118.52 temporary top. Intraday bias is back on the upside. Current rise should at least be corrective the fall from 122.87. Next target will be 121.14 resistance first. On the downside, though, break of 117.11 support will suggest completion of the rebound and turn bias back to the downside.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 117.53; (P) 117.93; (R1) 118.53; More…..

Intraday bias in EUR/JPY stays neutral first. Further rally remains mildly in favor with 116.85 resistance turned support intact. On the upside, break of 118.52 will resume the rebound from 114.42 and target 121.14 resistance next. However, break of 116.85, and sustained trading below 4 hour 55 EMA (now at 117.33), will argue the rebound has completed. Intraday bias will be turned back to the downside for 115.32 support for confirmation.

In the bigger picture, there is no clear sign of trend reversal yet. EUR/JPY is staying well inside falling channel and below falling 55 week EMA. Deeper fall could be seen to retest 109.48 (2016 low) next. On the upside, break of 122.87 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.