Daily Pivots: (S1) 118.07; (P) 119.00; (R1) 120.28; More….

Outlook in EUR/JPY is unchanged and intraday bias remains neutral. 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.

EUR/JPY spiraled higher last week as rebound from 154.32 extends. Initial bias stays on the upside this week for retesting 159.75 resistance. Decisive break there will resume larger up trend. On the 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. Next target will be 100% projection of 124.37 to 148.38 from 139.05 at 163.06.

In the long term picture, rise from 109.03 (2016 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).

Daily Pivots: (S1) 127.62; (P) 128.09; (R1) 129.69; More….

EUR/JPY is losing some downside momentum, but further decline is expected as long as 129.58 minor resistance holds. Corrective pattern from 134.11 should target 126.58 medium term fibonacci level next. On the upside, however, break of 129.58 resistance will indicate short term bottoming, and turn bias back to the upside for rebound back towards 133.44 high.

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) 157.30; (P) 157.61; (R1) 157.91; More….

Sideway trading continues in EUR/JPY above 156.57 support and intraday bias remains neutral. Risk stays on the downside with 158.64 resistance intact. On the downside, break of 156.57 support, and sustained trading below 55 D EMA (now at 156.95) 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.

EUR/JPY edged higher to 121.46 last week but retreated since then. Initial bias is neutral this week for some consolidations first. Downside of retreat should be contained above 191.11 support to bring another rally. On the upside, break of 121.46 will resume the rise from 115.86 to 161.8% projection of 115.86 to 120.01 from 117.07 at 123.78 next.

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 125.82). Reactions from there would decide whether the medium term 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 126.12), this is the preferred case.

EUR/JPY rebounded strongly after dipping to 137.32 last week, but stays below 142.28 resistance. Initial bias remains neutral this week first. On the upside, break of 142.28 will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 139.40 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

In the long term picture, as long as 55 month EMA (now at 129.41) holds, up trend 109.03 should still extend higher to 149.76 resistance (2014 high). However, sustained break of 55 month EMA will argue that the three wave pattern has completed, and bring deeper fall back to 109.03/114.42 support zone.

EUR/JPY’s rise rally resumed and hit 145.55 last week but retreated. Initial bias remains neutral this week first. 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.

In the long term picture, outlook will stay bullish as long as 134.11 resistance turned support holds (2021 high). Sustained break of 149.76 (2014 high) will open up further rally, as resumption of the rise from 94.11 (2012 low), towards 169.96 (2008 high).

Daily Pivots: (S1) 122.32; (P) 122.57; (R1) 122.73; More….

Intraday bias in EUR/JPY remains neutral and consolidation from 122.08 might extend further. . In case of another recovery, upside should be limited by 124.09 support turned resistance to bring fall resumption eventually. On the downside, firm break of 122.08 will resume the fall from 127.50 and target 118.62 low next. Nevertheless, firm break of 124.09 will at least bring stronger rebound back to 125.23 resistance and above.

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.

Daily Pivots: (S1) 129.35; (P) 129.65; (R1) 130.23; More….

Intraday bias in EUR/JPY is turned neutral as a temporary low is formed at 129.02 with current recovery. But further decline is expected as long as 130.58 resistance holds. On the downside, break of 129.02 will resume the fall from 133.44 to 127.92 key support. Firm break there will carry larger bearish implication. On the upside, however, break of 130.58 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, rise from 114.42 (2020 low) is still in progress and the strong support support from 55 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). However, sustained break of 127.91 support will argue that a medium term top is formed, and turn outlook bearish for deeper fall.

Daily Pivots: (S1) 156.28; (P) 157.33; (R1) 158.02; More….

Intraday bias in EUR/JPY stays neutral at this point. Corrective fall from 159.75 could extend lower as long as 158.64 resistance holds. Break of 156.57, and sustained trading below 55 D EMA (now at 156.72) will argue that fall from 159.75 is a larger scale correction. Deeper fall would be seen back towards 151.39 support.

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 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will remain the favored case as long as 151.39 support holds, even in case of deep pull back.

Daily Pivots: (S1) 157.02; (P) 157.45; (R1) 158.18; More….

Range trading continues in EUR/JPY and intraday bias remains neutral. Risk stays on the downside with 158.64 resistance intact. On the downside, break of 156.57 support, and sustained trading below 55 D EMA (now at 156.96) 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.

EUR/JPY edged lower to 117.51 last week but turned into consolidation since then. Initial bias remains neutral this week first. Outlook stays bearish with 119.87 resistance intact. Break of 117.51 will resume the large down trend to 114.84 support next. However, break of 119.87 resistance will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 120.87).

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 confirm 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 should now extend this falling leg through 109.48 (2016 low). With EUR/JPY staying below 55 month EMA, this is the preferred case.

Daily Pivots: (S1) 144.42; (P) 144.90; (R1) 145.68; More….

EUR/JPY is staying in consolidation below 145.55 and intraday bias remains neutral. 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.

Daily Pivots: (S1) 128.74; (P) 129.06; (R1) 129.35; More….

Consolidation from 129.96 is still extending and intraday bias in EUR/JPY remains neutral first. Further rise is expected with 127.48 support intact. On the upside, above 129.96 will resume the up trend from 121.63 to 100% projection of 121.63 to 127.48 from 125.07 at 130.92 next. However, firm break of 127.48 will turn bias to the downside, for deeper decline to 125.07 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 125.07 support holds. Sustained trading above 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67 will pave the way to 137.49 resistance next.

Daily Pivots: (S1) 135.34; (P) 136.13; (R1) 137.31; More….

Intraday bias in EUR/JPY stays neutral at this point. Overall, it’s staying in the corrective pattern from 144.26. On the upside, above 138.38 will resume the rebound from 138.38. On the downside, below 134.93 will turn bias back to the downside for 133.38 support.

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) 137.93; (P) 140.82; (R1) 142.91; More….

Focus stays on 138.38 resistance turned support in EUR/JPY. Decisive break there will be an early indication of larger bearish reversal. Deeper fall would be seen to 133.38 support next. On the upside, above 142.28 minor resistance will turn bias back to the upside for retesting 145.62 high.

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 133.38 support holds. Next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and turn focus to 124.37 support for confirmation.

Daily Pivots: (S1) 134.90; (P) 135.50; (R1) 136.02; More….

EUR/JPY is staying in range below 136.63 and intraday bias remains neutral. Outlook stays bullish with 133.03 support intact and further rally is in favor. Break of 136.63 will resume medium term up trend. However, below 133.03 will turn focus to 132.04. Firm break there will indicate medium term reversal.

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.

Daily Pivots: (S1) 129.41; (P) 130.15; (R1) 130.55; More….

EUR/JPY’s fall from 133.13 resumed by breaking 130.03 temporary low and intraday bias is back on the downside. outlook is unchanged that corrective pattern from 134.11 is seen as extending with another falling leg. Deeper decline should be seen to 128.23 support first. Break there will target 127.36 support and possibly first to 126.58 medium term fibonacci level. For now, risk will stay on the downside as long as 131.89 minor resistance holds, in case of recovery.

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) 129.91; (P) 130.23; (R1) 130.65; More….

Intraday bias in EUR/JPY remains neutral for the moment. Consolidation from 130.65 could extend with another fall. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42.

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) 158.45; (P) 158.84; (R1) 159.08; More….

Intraday bias in EUR/JPY remains neutral at this point. Downside of retreat should be contained above 155.51 support to bring another rally. On the upside, break of 159.20 will resume larger up trend, and target 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next.

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 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will now remain the favored case as long as 151.39 support holds, even in case of deep pull back.