EUR/JPY dropped to as low as 120.41 last week. The break of near term channel support suggests completion of corrective rise from 115.86, on bearish divergence condition in daily MACD. Initial bias stays on the downside this week for 120.17 support. Decisive break there should confirm this case and target a retest on 115.86 low. On the upside, above 121.26 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 122.87 resistance holds.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

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 125.65), this is the preferred case.

Daily Pivots: (S1) 120.51; (P) 121.20; (R1) 121.76; More….

EUR/JPY’s fall from 122.87 extends to as low as 120.63 so far and intraday bias remains on the downside. With 55 day EMA taken out, focus is now on 120.17 structure support. Sustained break there will argue that whole rise from 115.86 has completed and turn outlook bearish. Nevertheless, strong rebound from the current level, followed by break of 121.74 minor resistance, will retain near term bullishness. Retest of 122.87 high should then be seen.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 121.65; (P) 121.84; (R1) 122.05; More….

EUR/JPY’s correction from 122.87 short term top is in progress. Intraday bias remains on the downside for 55 day EMA (now at 121.18). Break there will target 120.17 structural support. On the upside, above 122.01 minor resistance will turn bias back to the upside for 122.87 resistance.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 121.52; (P) 121.95; (R1) 122.17; More….

Intraday bias in EUR/JPY is mildly on the downside as corrective fall from 122.87 short term top is in progress. for 55 day EMA (now at 121.22). Break there will target 120.17 structural support. On the upside, break of 122.87 will extend larger rise from 115.86 to medium term channel resistance (now at 124.23).

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 122.09; (P) 122.21; (R1) 122.37; More….

EUR/JPY’s corrective fall from 122.87 short term top is in progress. Intraday bias remains mildly on the downside for 55 day EMA (now at 121.17). Break there will target 120.17 structural support. On the upside, break of 122.87 will extend larger rise from 115.86 to medium term channel resistance (now at 124.26).

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 121.92; (P) 122.38; (R1) 122.63; More….

Intraday bias in EUR/JPY remains mildly on the downside. Correction from 122.87 short term top is in progress. Deeper fall could be seen to 55 day EMA (now at 121.09). Break there will target 120.17 structural support. On the upside, break of 122.87 will extend larger rise from 115.86 to medium term channel resistance (now at 124.26).

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

EUR/JPY edged higher to 122.87 last week but reversed from there. A short term top should be formed. Initial bias is mildly on the downside this week for 55 day EMA (now at 121.09). Break there will target 120.17 structural support. On the upside, break of 122.87 will extend larger rise from 115.86 to medium term channel resistance (now at 124.26).

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

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 125.65), this is the preferred case.

Daily Pivots: (S1) 122.50; (P) 122.69; (R1) 122.86; More….

Break of 122.76 temporary top suggests rally resumption in EUR/JPY. Intraday bias is back on the upside. Rise from 115.86 should target medium term channel resistance (now at 123.97). Sustained break there will carry larger bullish implication. On the downside, break of 122.18 minor support will indicate short term top and bring deeper pull back.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 122.26; (P) 122.49; (R1) 122.78; More….

EUR/JPY is staying in consolidation from 122.76 temporary top and intraday bias remains neutral. Downside of retreat should be contained by 121.52 minor support to bring another rise. On the upside, break of 122.65 will extend whole rise from 115.86 to medium term channel resistance (now at 124.06). Sustained break there will carry larger bullish implication.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 122.13; (P) 122.45; (R1) 122.71; More….

With 4 hour MACD crossed below signal line, intraday bias in EUR/JPY is turned neutral first. Downside of retreat should be contained by 121.52 minor support to bring another rise. On the upside, break of 122.65 will extend whole rise from 115.86 to medium term channel resistance (now at 124.06). Sustained break there will carry larger bullish implication.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 121.90; (P) 122.19; (R1) 122.71; More….

EUR/JPY’s break of 122.65 resistance suggests resumption of whole rise form 115.86. Intraday bias is back on the upside. Current rise should be seen to medium term channel resistance (now at 124.06). Sustained break there will carry larger bullish implication. On the downside, break of 122.11 minor support will turn intraday bias neutral and bring retreat. But outlook will stay mildly bullish cas long as 120.17 support holds.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 121.59; (P) 121.72; (R1) 121.91; More….

EUR/JPY is staying in consolidation from 122.65 and intraday bias remains neutral. On the upside, break 122.65 will resume whole rally from 115.86 and target medium term channel resistance (now at 124.26). However, break of 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) will argue that rise from 115.86 has completed. Deeper fall would be seen to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

EUR/JPY’s strong rebound last week suggests that price actions from 122.65 are merely a corrective pattern. Rise from 115.86 is in favor to extend higher. Initial bias remains neutral this week first. Break of 122.65 resistance will confirm this bullish case and target medium term channel resistance (now at 124.26). However, break of 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) will argue that rise from 115.86 has completed. Deeper fall would be seen to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

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 125.60), this is the preferred case.

Daily Pivots: (S1) 121.28; (P) 121.49; (R1) 121.84; More….

Intraday bias in EUR/JPY remains neutral first. With 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) intact, near term outlook stays bullish for further rally. On the upside, break of 122.65 will resume rise from 115.86 to medium term channel resistance. On the downside, sustained break of 119.99 will bring deeper fall to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 120.45; (P) 120.92; (R1) 121.66; More….

EUR/JPY is still staying in consolidation from 122.65 and intraday bias remains neutral. With 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) intact, near term outlook stays bullish for further rally. On the upside, break of 122.65 will resume rise from 115.86 to medium term channel resistance. On the downside, sustained break of 119.99 will bring deeper fall to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 120.66; (P) 121.05; (R1) 121.33; More….

Intraday bias in EUR/JPY stays neutral at this point. With 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) intact, near term outlook stays bullish for further rally. On the upside, break of 122.65 will resume rise from 115.86 to medium term channel resistance. On the downside, sustained break of 119.99 will bring deeper fall to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 120.63; (P) 121.01; (R1) 121.75; More….

EUR/JPY rebounded strongly ahead of 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05). But upside is limited below 122.65 so far. Intraday bias remains neutral first. With 119.99 intact, near term outlook stays bullish for further rally. On the upside, break of 122.65 will resume rise from 115.86 to medium term channel resistance. On the downside, Sustained break of 119.99 will bring deeper fall to 61.8% retracement at 118.45.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

Daily Pivots: (S1) 120.06; (P) 120.72; (R1) 121.27; More….

EUR/JPY is still holding above 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05) for now. Intraday bias remains neutral first. Considering bearish divergence condition in daily MACD, rebound from 115.86 could have completed at 122.65, ahead of medium term channel resistance. Firm break of 119.99 should confirm and bring deeper fall to 61.8% retracement at 118.45 and below. Nevertheless, strong rebound from current level will retain near term bullishness and turn focus back to 122.65 high.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

EUR/JPY’s sharp decline last week put focus on 119.99 cluster support (38.2% retracement of 115.86 to 122.65 at 120.05). Considering bearish divergence condition in daily MACD, rebound from 115.86 could have completed at 122.65, ahead of medium term channel resistance. Firm break of 119.99 should confirm and bring deeper fall to 61.8% retracement at 118.45 and below. Nevertheless, strong rebound from current level will retain near term bullishness and turn focus back to 122.69 high.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.49) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.

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 125.60), this is the preferred case.

Daily Pivots: (S1) 120.83; (P) 121.43; (R1) 121.86; More….

While EUR/JPY drops sharply, it’s holding above 119.99 support. Price actions from 122.65 are seen as a consolidation pattern and intraday bias stays neural. On the upside, break of 122.65 will resume the rise form 115.86 to key channel resistance (now at 124.33). However, sustained break of 119.99 support will argue that rise from 115.86 has completed. Intraday bias will be turned back to the downside for 119.24 support first.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Rise from 115.86 is seen as a corrective rise for the moment. Strong resistance could be seen at falling channel resistance (now at 124.72) to limit upside. However, sustained break of the channel resistance will carry larger bullish implication and target 127.50 key resistance next.