Daily Pivots: (S1) 133.68; (P) 134.03; (R1) 134.66; More…

Intraday bias in EUR/JPY remains on the upside for the moment. Firm break of 134.20 fibonacci level will pave the way to 141.04 resistance next. On the downside, below 133.26 minor support will turn intraday bias neutral and bring consolidations. But firm break of 131.39 resistance turned support is needed to be the first sign of near term reversal. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). as long as 124.08 resistance turned support holds, further rise is expected to 61.8% retracement of 149.76 to 109.03 at 134.20. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. On the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

Daily Pivots: (S1) 119.34; (P) 119.77; (R1) 120.37; More…

Intraday bias in EUR/JPY remains on the upside for 121.32 resistance. The corrective fall from 124.08 could have completed at 118.23, after defending 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). Break of 121.31 will bring retest of 124.08 resistance. On the downside sustained break of 118.39/45 will argue that whole rise from 109.20 has completed and turn outlook bearish for 61.8% retracement at 114.88 and below.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. There is prospect of another rise towards 126.09 key resistance level before completion. But even in that case, we’d expect strong resistance between 126.09 and 141.04 to limit upside, at least on first attempt. Nonetheless, decisive break of 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39) will argue that rise from 109.20 is completed and turn outlook bearish for 61.8% retracement at 114.88 and below.

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Daily Pivots: (S1) 142.61; (P) 143.07; (R1)143.63; More….

EUR/JPY is staying in consolidation from 145.62 and intraday bias remains neutral. Deeper pull back cannot be ruled out. But downside should be contained above 138.38 resistance turned support bring another rally. On the upside, decisive break of 145.62 will pave the way to 149.76 long term resistance, and then 100% projection of 124.37 to 144.26 from 133.38 at 153.27.

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) 162.92; (P) 163.22; (R1) 163.55; More…

Intraday bias in EUR/JPY is turned neutral gain with current retreat. On the upside, above 163.70 will resume the rise from 153.15 to 164.29 high. However, considering loss of momentum as seen in 4H MACD, break of 162.55 minor support will turn bias back to the downside for deeper pullback first.

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 148.38 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) 139.03; (P) 139.46; (R1) 140.17; More….

Focus stays on 139.78 minor resistance in EUR/JPY. Firm break there will argue that pull back from 144.26 has completed at 136.85. Further rally would be seen back to retest 144.26 high. On the downside, though, below 136.85 will resume the fall back to 132.63 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. Firm break of 139.78 will target 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) 141.34; (P) 141.80; (R1) 142.47; More….

A short term bottom should be formed in EUR/JPY at 138.79 with current rebound. Intraday bias is back on the upside for 55 day EMA (now at 143.37). Sustained break there will argue that whole correction from 148.38 has completed with three waves down to 138.79. Further rise should then be seen back to 146.71/148.38 resistance zone. On the downside, below 141.12 will bring retest of 138.79 instead.

In the bigger picture, as long as 55 week EMA (now at 138.54) 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 before completing the correction from 148.38.

Daily Pivots: (S1) 120.00; (P) 120.58; (R1) 121.62; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral with focus on 121.39 resistance. 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) 160.58; (P) 160.81; (R1) 161.18; More….

Despite some loss of upside momentum as seen in 4H MACD, intraday bias in EUR/JPY remains on the upside with 160.17 minor support intact. Current rally should extend to 163.06 projection level next. On the downside, however, break of 160.17 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 139.05 at 163.06. On the downside, break of 154.32 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) 120.75; (P) 120.96; (R1) 121.12; More….

EUR/JPY’s break of 120.78 support confirms resumption of fall from 127.50. Intraday bias is back on the downside for retesting 118.62 low. Break will resume medium term down trend. On the upside, break of 121.31 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 139.70; (P) 140.82; (R1) 141.55; More….

EUR/JPY is still bounded in range of 137.37/142.84 and intraday bias remains neutral. On the downside, firm break of 155.33 will resume the whole decline from 148.38 to 135.40 fibonacci level next. On the upside, decisive break of 142.84 resistance will argue that the correction from 148.38 has completed. Stronger rally should then be seen back to 146.71 resistance.

In the bigger picture, as long as 55 week EMA (now at 138.81) 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.

EUR/JPY stayed in range of 127.91/130.45 last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, decisive break of 130.45 resistance should indicate that the fall from 134.11 has completed. Further rise should be seen to 130.73 resistance first. Sustained break there will pave the way for retesting 134.11 high. On the downside, however, break of 127.91 should resume the fall from 134.11, through 127.91 support, to 137.07 resistance turned support next.

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.

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) 131.86; (P) 132.23; (R1) 132.71; More…

Intraday bias in EUR/JPY remains neutral as corrective trading from 134.39 is still in progress. Outlook stays bullish as long as 131.69 support holds. Above 133.02 minor resistance will turn bias back to the upside. Sustained break of 134.20 fibonacci level will extend larger up trend to 141.04 resistance next. However, break of 131.69 will be an early sigh of medium term reversal and will target 127.55 key support level instead.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. On the downside, break of 127.55 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

Daily Pivots: (S1) 126.83; (P) 127.38; (R1) 128.12; More….

Intraday bias in EUR/JPY remains on the downside at this point. Fall from 133.12 is in progress for retesting 124.89 low. On the upside, above 128.44 minor resistance will turn intraday bias neutral first. But break of 130.20 resistance is needed to indicate completion of the fall from 133.12. Otherwise, near term outlook will now be mildly bearish even 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.

Daily Pivots: (S1) 116.21; (P) 116.72; (R1) 117.66; More…..

EUR/JPY’s break of 117.77 resistance today confirms short term bottoming at 114.42. More importantly, whole decline from 122.87 might be completed too. Intraday bias stays on the upside for 121.14 resistance next. On the downside, break of 115.32 support is needed to indicate completion of the rebound. Otherwise, another rise will remain in favor even in case of retreat.

In the bigger picture, the down trend from 137.49 (2018 high) is still in progress. EUR/JPY continues to stay 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) 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) 127.64; (P) 128.29; (R1) 128.74; More….

Intraday bias in EUR/JPY remains neutral at this point. Overall, 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) 141.96; (P) 142.45; (R1) 143.39; More….

Immediate focus is now on 142.79 resistance in EUR/JPY. Firm break there will argue that the correction from 148.38 has completed at 137.37 already. Further rise would be seen to 146.71 resistance next. On the downside, break of 139.54 will resume the whole fall from 148.38 through 137.37, to 135.40 fibonacci level.

In the bigger picture, as long as 55 week EMA (now at 138.87) 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.

EUR/JPY edged higher to 133.42 last week but retreated since then. Initial bias remains neutral this week first. Downside should be contained well above 130.97 support to bring rally resumption. On the upside, break of 133.42 will extend larger up trend to 100% projection of 114.42 to 127.07 from 121.63 at 134.28.

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 127.07 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).

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.

EUR/JPY’s rise from 153.15 extended higher last week. Initial bias stays on the upside this week for 161.8% projection of 153.15 to 158.55 from 155.06 at 163.79, which is close to 164.29 high. On the downside, below 160.03 minor support will turn intraday bias neutral first. But further rally is expected as long as 158.55 resistance turned support holds.

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) 155.49; (P) 156.20; (R1) 157.33; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 156.92 is extending. Further rally would remain in favor as long as 154.30 minor support holds. Above 156.92 will resume larger up trend to 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, break of 154.03 will turn bias back to the downside for deeper pull back.

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.