EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.49; (P) 120.75; (R1) 120.99; More….

Intraday bias in EUR/JPY remains on the upside for the moment. rebound from 119.24 should target a test on 121.46 resistance first. Break will resume larger rally from 115.86 to 123.35 resistance next. On the downside, below 120.41 minor support will turn intraday bias neutral again. But overall near term outlook will remain bullish as long as 119.11 support holds.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. In case of another rise, strong resistance should be seen from falling channel resistance (now at 125.14) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.47; (P) 120.61; (R1) 120.82; More….

Intraday bias in EUR/JPY remains on the upside at this point. Rebound from 119.24 is in progress for retesting 121.46 resistance first. Break will resume larger rally from 115.86 to 123.35 resistance next. On the downside, below 120.41 minor support will turn intraday bias neutral again. But overall near term outlook will remain bullish as long as 119.11 support holds.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. In case of another rise, strong resistance should be seen from falling channel resistance (now at 125.14) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Weekly Outlook

EUR/JPY’s breach of 120.68 minor resistance suggests that rebound from 119.24 is resuming. Initial bias is now on the upside this week for 121.46 resistance first. Break will resume larger rally from 115.86 to 123.35 resistance next. On the downside, below 120.27 minor support will turn intraday bias neutral again. But overall near term outlook will remain bullish as long as 119.11 support holds.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. In case of another rise, strong resistance should be seen from falling channel resistance (now at 125.14) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

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 Daily Outlook

Daily Pivots: (S1) 120.41; (P) 120.50; (R1) 120.67; More….

Intraday bias in EUR/JPY remains neutral for the moment. With 119.11 support intact, rise from 115.86 is in favor to continue. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.15; (P) 120.38; (R1) 120.69; More….

Intraday bias in EUR/JPY remains neutral at this point. Outlook is unchanged that with 119.11 support intact, rise from 115.86 is in favor to continue. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.00; (P) 120.13; (R1) 120.33; More….

Outlook in EUR/JPY remains unchanged and intraday bias stays neutral. With 119.11 support intact, rise from 115.86 is in favor to continue. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.73; (P) 119.92; (R1) 120.14; More….

Intraday bias in EUR/JPY remains neutral first and outlook is unchanged. With 119.11 support intact, rise form 115.86 is in favor to continue. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.43; (P) 119.96; (R1) 120.26; More….

Intraday bias in EUR/JPY remains neutral for the moment. At this point, rise from 115.86 is still in favor to extend as long as 119.11 holds. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

EUR/JPY Weekly Outlook

EUR/JPY’s recovery lost momentum after hitting 120.68 and initial bias remains neutral this week first. At this point, rise from 115.86 is still in favor to extend as long as 119.11 holds. On the upside, above 120.68 will turn bias to the upside for 121.46 resistance first. However, firm break of 119.11 will argue that the rebound from 115.86 has completed. Intraday bias will be turned back to the downside for 117.07 support for confirmation.

In the bigger picture, the rebound from 115.86 medium term bottom is seen as a corrective rise only. IN case of another rise, strong resistance should be seen from falling channel resistance (now at 125.23) to limit upside. Break of 117.07 support will be an early sign of resumption of down trend from 137.49 through 115.86 low.

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 Daily Outlook

Daily Pivots: (S1) 119.83; (P) 120.21; (R1) 120.47; More….

Intraday bias in EUR/JPY remains neutral for the moment. As long as 191.11 support holds, outlook remains cautiously bullish and further rise is in favor. On the upside above 120.68 will target a test on 121.46 resistance firm Break will resume whole rise form 115.86 and target 123.35 structural resistance.

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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.94; (P) 120.17; (R1) 120.50; More….

Intraday bias in EUR/JPY remains neutral at this point. As long as 191.11 support holds, outlook remains cautiously bullish and further rise is in favor. On the upside above 120.68 will target a test on 121.46 resistance firm Break will resume whole rise form 115.86 and target 123.35 structural resistance.

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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.99; (P) 120.25; (R1) 120.49; More….

EUR/JPY failed to sustain above 120.63 minor resistance and retreated. Intraday bias remains neutral first. As long as 191.11 support holds, outlook remains cautiously bullish and further rise is in favor. On the upside above 120.68 will target a test on 121.46 resistance firm Break will resume whole rise form 115.86 and target 123.35 structural resistance.

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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.06; (P) 120.38; (R1) 120.65; More….

Intraday bias in EUR/JPY remains neutral with focus on 120.63 minor resistance. Break will suggests that corrective fall from 121.46 has completed at 119.24, and rise from 115.86 is ready to resume. Further rise should then be seen to 121.46 resistance for confirmation. Break there will target 123.35 structural resistance. In any case, outlook will remain bullish as long as 119.11 support holds, in case of another retreat.

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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.69; (P) 120.00; (R1) 120.55; More….

Focus is now on 120.63 minor resistance in EUR/JPY. Break will suggests that corrective fall from 121.46 has completed at 119.24, and rise from 115.86 is ready to resume. Further rise should then be seen to 121.46 resistance for confirmation. Break there will target 123.35 structural resistance. In any case, outlook will remain bullish as long as 119.11 support holds, in case of another retreat.

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.

EUR/JPY Weekly Outlook

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 Daily Outlook

Daily Pivots: (S1) 119.22; (P) 119.51; (R1) 119.78; More….

No change in EUR/JPY’s outlook as we’re still viewing price actions from 121.46 as consolidation. Downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance next. 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, 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 125.38). 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.51; (P) 119.84; (R1) 120.11; More….

At this point, we’re still viewing price action form 121.46 as consolidation. While further pull back cannot be ruled out, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance next. 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, 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 125.38). 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.77; (P) 120.21; (R1) 120.46; More….

EUR/JPY gyrates lower as consolidation from 121.46 is extending. Intraday bias remains neutral first. In case of deeper fall, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance 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 125.38). 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.11; (P) 120.27; (R1) 120.46; More….

EUR/JPY is still staying in consolidation from 121.46 and intraday bias remains neutral first. More sideway trading could be seen. In case of deeper fall, downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance 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 125.38). 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.

EUR/JPY Daily Outlook

Daily Pivots: (S1) 120.11; (P) 120.49; (R1) 120.77; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 121.46 is extending. Deeper fall cannot be ruled out. But downside should be contained by 119.11 support. On the upside break of 121.46 will resume the rise from 115.86 to 123.35 resistance 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 125.38). 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.