Daily Pivots: (S1) 131.97; (P) 132.60; (R1) 132.93; More….

No change in EUR/JPY’s outlook. EUR/JPY’s recovery from 128.94 might still extend. But after all, it’s seen as a corrective move. Therefore, we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside. Break of 132.03 will turn bias to the downside for retesting 128.94 low. However, sustained break of 134.22 will turn focus back to 137.49 high instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.87; (P) 133.10; (R1) 133.29; More….

With 132.03 minor support intact, EUR/JPY’s recovery from 128.94 could extend higher. But after all, it’s seen as a corrective move. Therefore, we expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside. Break of 132.03 will turn bias to the downside for retesting 128.94 low. However, sustained break of 134.22 will turn focus back to 137.49 high instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.65; (P) 133.06; (R1) 133.52; More….

Intraday bias in EUR/JPY stays mildly on the upside at this point. Rebound from 128.94 should extend higher. However, it’s after all seen as a corrective move. Therefore, expect strong resistance from 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside. Break of 132.03 will turn bias to the downside for retesting 128.94 low. However, sustained break of 134.22 will turn focus back to 137.49 high instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.27; (P) 132.52; (R1) 132.95; More….

EUR/JPY’s strong rally suggests that rebound from 128.94 has resumed. Intraday bias is back on the upside for further rise. At this point, such rebound is still seen as a correction, hence, we’d expect strong resistance bring 61.8% retracement of 137.49 to 128.94 at 134.22 to limit upside. Break of 132.03 will turn bias to the downside for retesting 128.94 low. However, sustained break of 134.22 will turn focus back to 137.49 high instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.27; (P) 132.52; (R1) 132.95; More….

EUR/JPY recovered after drawing support from 4 hour 55 EMA and intraday bias is turned neutral. At this point, we’re holding on to the view that rebound from 128.94 has completed at 133.08 already. Below 132.03 will target a test on 128.94 low. On the upside, above 133.08 will extend such rebound. But even in that case, upside will likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 131.86; (P) 132.41; (R1) 132.80; More….

The corrective rise from 128.94 is likely completed at 133.08, on bearish divergence condition in 4 hour MACD. Intraday bias is mildly on the downside for retesting 128.95 low. On the upside, above 133.08 will extend such rebound. But even in that case, upside will likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

EUR/JPY edged higher to 133.08 last week but continued to lose upside momentum, as seen in 4 hour MACD. Breach of 132.10 minor support argues that corrective rebound from 128.94 could have completed. Initial bias is turned to the downside this week for retesting 128.94 low. On the upside, above 133.08 will extend such rebound. But upside will likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

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) 132.23; (P) 132.65; (R1) 132.96; More….

EUR/JPY continues to lose upside momentum as seen in 4 hour MACD. But with 132.10 minor support intact, further rise could be seen. Nonetheless, upside will now likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below. On the downside, below 132.10 minor support will suggests that the rebound from 128.94 might have completed. And, intraday bias will be turned back to the downside for retesting 128.94 low.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.36; (P) 132.63; (R1) 132.95; More….

EUR/JPY’s rise continue with weak upside momentum as seen in 4 hour MACD. While further rebound could be seen, upside will now likely be limited by 61.8% retracement of 137.49 to 128.94 at 134.22 and below. On the downside, below 132.10 minor support will suggests that the rebound from 128.94 might have completed. And, intraday bias will be turned back to the downside for retesting 128.94 low.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.05; (P) 132.40; (R1) 132.71; More….

EUR/JPY is staying in consolidation below 132.96 and intraday bias remains neutral. In case of another retreat, downside should be contained by 131.09 minor support to bring rebound resumption. Above 132.96 will extend the rebound from 128.94 to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 132.14; (P) 132.56; (R1) 133.00; More….

EUR/JPY edged higher to 132.96 but upside momentum is unconvincing as seen in 4 hour MACD. Intraday bias stays neutral first. In case of another retreat, downside should be contained by 131.09 minor support to bring rebound resumption. Above 132.96 will extend the rebound from 128.94 to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 131.96; (P) 132.14; (R1) 132.49; More….

Intraday bias bias in EUR/JPY remains neutral for consolidation below 132.89 temporary top. For now, downside of retreat should be contained by 131.09 minor support to bring another rise. Above 132.89 will extend the rebound from 128.94 to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

EUR/JPY’s rebound from 128.94 extended to as high as 132.98 before forming a temporary top there. Initial bias is neutral tis week first. Downside of retreat should be contained above 131.09 minor support to bring another rally. Above 132.89 will target 61.8% retracement of 137.49 to 128.94 at 134.22 and above. For now, we’d expect strong resistance below 137.49 high to complete the rebound from 128.94 to bring another fall. On the downside, below 131.09 will indicate that the rebound is completed and bring retest of 128.94 low.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 week EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

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) 131.96; (P) 132.14; (R1) 132.49; More….

EUR/JPY’s rally resumed after brief consolidation and reaches as high as 132.74 so far. Intraday bias is back on the upside and rebound from 128.94 should target 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, below 131.79 minor support will turn intraday bias neutral first.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading another, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 131.86; (P) 132.23; (R1) 132.44; More….

EUR/JPY reaches as high as 132.61 but lost momentum since then. For now, further rally is in favor as long as 131.09 minor support holds. Rebound from 128.94 would extend to 61.8% retracement of 137.49 to 128.94 at 134.22 and above. However, break of 131.09 will indicate completion of the rebound and bring retest of 128.94 low instead.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading another, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 131.70; (P) 132.16; (R1) 132.89; More….

EUR/JPY’s rally continues to as high as 132.61 so far. Breach of 132.40 resistance with solid upside momentum suggests decline from 137.49 has completed at 128.94 already. Intraday bias is now on the upside for 61.8% retracement of 137.49 to 128.94 at 134.22 and above. On the downside, break of 131.09 support is needed to indicate completion of the rebound. Otherwise, further rebound will remain in favor in case of retreat.

In the bigger picture, price action from 137.49 medium term top are developing into a corrective pattern. Strong support from 55 EMA (now at 129.91) suggests that the first leg has completed at 128.94 already. Nonetheless, break of 137.49 is needed to confirm resumption of the rise from 109.03 (2016 low). Otherwise, we’d expect more corrective range trading another, with risk of another fall to 38.2% retracement of 109.03 to 137.49 at 126.61 before completion.

Daily Pivots: (S1) 131.08; (P) 131.53; (R1) 131.97; More….

EUR/JPY is still bounded in range from 128.94 and intraday bias remains neutral. As long as 132.40 holds, near term outlook remains bearish for deeper fall. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.

Daily Pivots: (S1) 131.06; (P) 131.33; (R1) 131.59; More….

Intraday bias in EUR/JPY remains neutral as consolidation from 128.94 is still unfolding. As long as 132.40 holds, near term outlook remains bearish for deeper fall. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.

No change in EUR/JPY’s outlook as it continued to stay in consolidative trading between 128.94/132.40 last week. Initial bias remains neutral this week first. Also, as long as 132.40 holds, near term outlook remains bearish for deeper fall. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.

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) 131.16; (P) 131.32; (R1) 131.60; More….

EUR/JPY is still staying in consolidation in range of 128.94/132.40. Intraday bias remains neutral. With 132.40 resistance intact, near term outlook remains bearish and further decline is expected. On the downside, break of 128.94 will extend the whole fall from 137.49 to 126.61 medium term fibonacci level next. Nonetheless, break of 132.40 should confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development argues that rise from 109.03 (2016 low) has completed at 137.49, on bearish divergence condition in weekly MACD. Deeper fall should be seen to 38.2% retracement of 109.03 to 137.49 at 126.61 first. Sustained break there would pave the way to 61.8% retracement at 119.90. On the upside, break of 132.40 resistance will indicate that the pull back is completed and bring retest of 137.49. But still, break of 137.49 is needed to confirm medium term rise resumption. Otherwise, outlook is neutral at best for consolidations.