Daily Pivots: (S1) 128.76; (P) 129.00; (R1) 129.41; More….

Despite a rather strong rebound, upside was limited below 129.25 minor resistance. Intraday bias in EUR/JPY stays neutral first and deeper fall is expected. As noted before, rebound from 124.61 could have completed with three waves up to 131.97 already. Below 128.49 will target 127.13 support for confirmation. Overall, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of stronger than expected rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 128.51; (P) 128.69; (R1) 128.89; More….

A temporary low is in place at 128.49 with 4 hour MACD crossed above signal line. Intraday bias in EUR/JPY is turned neutral first. Upside of recovery should be limited by 129.52 minor resistance to bring another fall. Rebound from 124.61 could have completed with three waves up to 131.97 already. Below 128.49 will target 127.13 support for confirmation. Overall, near term risk will stay on the downside as long as 131.13 resistance holds, even in case of strong rebound.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

Daily Pivots: (S1) 128.39; (P) 128.98; (R1) 129.32; More….

Intraday bias in EUR/JPY remains on the downside at this point. Rebound from 124.61 could have completed with three waves up to 131.97 already. Deeper fall would be seen for 127.13 support first. Decisive break there will bring retest of 124.61 low. On the upside, above 129.52 minor resistance will turn intraday bias neutral first. But near term outlook will remain cautiously bearish as long as 131.13 resistance holds.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

The rebound to 131.13 last week was brief. EUR/JPY drops sharply since then, through 129.10 support to close at 128.62. The development revives the case that corrective rebound from 124.61 has completed with three waves up to 131.97. Initial bias stays on the downside this week for 127.13 support first. Decisive break there will bring retest of 124.61 low. On the upside, above 129.52 minor resistance will turn intraday bias neutral first. But near term outlook will remain cautiously bearish as long as 131.13 resistance holds.

In the bigger picture, for now, EUR/JPY is still holding above 124.08 key support turned resistance. And the larger rise from 109.03 (2016 low) mildly in favor to resume. Break of 133.47 should send the cross through 137.49 high. However, decisive break of 124.08 will confirm medium term reversal and could then pave the way back to 109.03 low and below.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 129.83; (P) 129.63; (R1) 130.02; More….

EUR/JPY drops to as low as 128.72 so far today. The break of 129.10 indicates resumption of fall from 131.97. It also revives the case that corrective rise from 124.61 has completed with three waves up to 131.97. Intraday bias is now on the downside for 127.13 support first. Break there will pave the way to 124.61 low. ON the upside, break of 131.13 resistance is needed to confirm completion of the fall from 131.97. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.83; (P) 129.63; (R1) 130.02; More….

Intraday bias in EUR/JPY remain neutral at hit point. On the downside, below 129.10 will resume the decline from 131.97 and target 127.13 support. Break there will confirm completion of rebound from 124.61, with three waves up to 131.97. On the upside, above 131.13 will likely resume the rebound from 124.61 through 131.97.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.83; (P) 130.47; (R1) 130.91; More….

EUR/JPY dips notably after hitting 131.13 and intraday bias is turned back to the downside for 129.10 support. Break will extend the fall from 131.97 and target 127.13 support. On the upside, above 131.13 will likely resume the rebound from 124.61 thorugh 131.97.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.93; (P) 130.54; (R1) 131.40; More….

Intraday bias in EUR/JPY remains mildly on the upside for 131.97 resistance. Break there will resume whole rebound from 124.61 and target 133.47 key resistance next. Break there will confirm the bullish case that fall from 137.49 has completed. On the downside, however, below 130.06 minor support will turn focus back to 129.10 instead.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.48; (P) 129.78; (R1) 130.30; More….

EUR/JPY rises to as high as 130.93 so far today. Current development suggests that pull back from 131.97 has completed at 129.10. Intraday bias stays on the upside for 131.97 first. Break there will resume the rebound from 124.61 and target 133.47 key resistance. Break there will confirm near that fall from 137.49 has completed. On the downside, however, below 130.06 minor support will turn focus back to 129.10 instead.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.48; (P) 129.78; (R1) 130.30; More….

EUR/JPY’s strong rebound from1 29.10 and break of 130.25 minor resistance suggests that pull back from 131.97 is completed. Also, with 127.13 support intact, rise from 124.61 is possibly still in progress. Intraday bias is back on the upside for 131.97 first. Break will extend the rebound from 124.61 to 133.47 key resistance. On the downside, though, below 129.10 will extend the fall from 131.97 to 127.13 support next.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.17; (P) 129.37; (R1) 129.62; More….

No change in EUR/JPY’s outlook. With 130.25 minor resistance intact, deeper decline is expected to 127.13 support. The rebound from 124.61 should have completed with three waves up to 131.97 already. Break of 127.13 will confirm this bearish case and target a test on 124.61 low. On the upside, though, above 130.25 will bring retest of 131.97 instead.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 133.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

EUR/JPY’s decline from 131.97 extended last week and the development suggested that rebound from 124.61 has completed with three waves up to 131.97 already. Intraday bias stays on the downside this week for 127.13 support next. Break will confirm this case and target a test on 124.61 low. On the upside, though, above 130.25 will bring retest of 131.97 instead.

In the bigger picture, for now, medium outlook remains cautiously bullish. the three wave structure of the fall from 137.49 to 124.61 argues that it’s a correction. Also, 124.08 key resistance turned support was defended. Break of 1`33.47 resistance will affirm the bullish case that rise from 109.03 (2016 low) is still in progress for another high above 137.49. And this will remain the favored case as long as 127.13 support holds.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 129.18; (P) 129.76; (R1) 130.09; More….

EUR/JPY’s decline from 131.97 is in progress and intraday bias stays on the downside. As noted before, the rebound from 124.61 should have completed with three waves up to 131.97 already. Deeper fall should be seen to 127.13 support first. Break will confirm this bearish case and target 124.61 low. On the upside, above 130.25 minor resistance will turn bias to the upside for retesting 131.97 resistance instead.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.62; (P) 129.94; (R1) 130.48; More….

Despite losing downside momentum as seen in 4 hour MACD, deeper fall is expected with 130.86 minor resistance intact. As noted before, EUR/JPY’s rebound from 124.61 could have completed at 131.97 already. Break of 127.13 will confirm this bearish case and target 124.61 low. On the upside, though, above 130.86 minor resistance will dampen this bearish cas and bring retest of 131.97 instead.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.64; (P) 130.01; (R1) 130.28; More….

Intraday bias in EUR/JPY remains mildly on the downside for 127.13 support. The rebound from 124.61 could have completed at 131.97 already. Break of 127.13 will confirm this bearish case and target 124.61 low. On the upside, though, above 130.86 minor resistance will dampen this bearish cas and bring retest of 131.97 instead.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 129.78; (P) 130.27; (R1) 130.67; More….

EUR/JPY’s break of 129.90 argues that rise from 124.61 has completed at 131.97 already, on bearish divergence condition in 4 hour MACD. Intraday bias is back on the downside for 127.13 support first. Break there will confirm this bearish case and target 124.61 low. On the upside, break of 131.97 is now needed to indicate resumption of rise from 127.13. Otherwise, risk will stay mildly on the downside even in case of rebound.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 130.39; (P) 130.80; (R1) 131.06; More….

EUR/JPY’s fall from 131.97 extends today but it’s still held above 129.90 support. Intraday bias remains neutral and near term outlook stays bullish for another rally. On the upside, above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, considering bearish divergent condition in 4 hour MACD, break of 129.90 will indicate short term reversal, and turn bias back to the downside for 127.13 support and below.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

EUR/JPY edged higher to 131.97 last week but retreated since then. Initial bias is neutral this week for some consolidations first. But as long as 129.90 minor support holds, near term outlook stays bullish for another rally. On the upside, above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, considering bearish divergent condition in 4 hour MACD, break of 129.90 will indicate short term reversal, and turn bias back to the downside for 127.13 support.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there has completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

In the long term picture, at this point, EUR/JPY is staying in long term sideway pattern, established since 2000. Rise from 109.03 is seen as a leg inside the pattern. As long as 124.08 support holds, further rally is in favor in medium to long term through 149.76 high. However, break of 124.08 could extend the fall through 109.03 low instead.

Daily Pivots: (S1) 130.63; (P) 131.03; (R1) 131.35; More….

Intraday bias in EUR/JPY remains neutral for consolidation below 131.97 temporary top. Outlook is unchanged that as long as 129.90 minor support holds, further rise is still in favor. Above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 129.90 will indicate short term reversal, with bearish divergence condition in 4 hour MACD, and turn bias back to the downside for 127.13 support.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there as completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.

Daily Pivots: (S1) 130.89; (P) 131.34; (R1) 131.79; More….

Intraday bias in EUR/JPY remains neutral at this point. As long as 129.90 minor support holds, further rise is still in favor. Above 131.97 will target 100% projection of 124.61 to 130.33 from 127.13 at 132.85 next. However, break of 129.90 will indicate short term reversal, with bearish divergence condition in 4 hour MACD, and turn bias back to the downside for 127.13 support.

In the bigger picture, the strong break of channel resistance from 137.49 suggests that the decline from there as completed. The three wave structure suggests that it’s a correction. With 124.08 key resistance turned support intact, medium term bullishness is also retained. Break of 133.47 will affirm this bullish case and target 137.49 and above. This will now be the favored case as long as 127.13 support holds.