EUR/JPY breached 159.47 to 159.75 last week but reversed from there. As downside is contained above 156.85 so far, initial bias remains neutral this week first. On the downside, break of 156.85 will turn bias back to the downside for 55 D EMA (now at 156.17) and possibly below. On the upside, break of 159.75
EURJPY Outlook
Daily Pivots: (S1) 157.05; (P) 158.40; (R1) 159.18; More…. Intraday bias in EUR/JPY stays neutral at this point. For now, further rally is in favor as long as 156.85 support holds. Above 159.75 will extend the rise from 163.06 projection level. Nevertheless, break of 156.85 will turn bias back to the downside for 55 D
Daily Pivots: (S1) 158.95; (P) 159.36; (R1) 160.17; More…. EUR/JPY’s breach of 159.47 argues that larger up trend is resuming. But intraday bias is turned neutral again with the retreat from 159.75. For now, further rally is in favor as long as 156.85 support holds. Above 159.75 will extend the rise from 163.06 projection level.
EUR/JPY engaged in sideway trading above 156.57 last week. Initial bias stays neutral this week first. Risk will be mildly on the downside as long as 158.64 resistance holds. Break of 156.57 support, and sustained trading below 55 D EMA (now at 156.73) will argue that fall from 159.75 is a larger scale correction. Deeper
Daily Pivots: (S1) 156.28; (P) 157.33; (R1) 158.02; More…. Intraday bias in EUR/JPY stays neutral at this point. Corrective fall from 159.75 could extend lower as long as 158.64 resistance holds. Break of 156.57, and sustained trading below 55 D EMA (now at 156.72) will argue that fall from 159.75 is a larger scale correction.
Daily Pivots: (S1) 157.94; (P) 158.30; (R1) 158.59; More…. Intraday bias in EUR/JPY remains neutral and outlook is unchanged. On the upside, firm break of 158.51 resistance will argue that larger up trend is ready to resume through 159.75, to 163.06 projection target. On the downside, sustained trading below 55 D EMA (now at 156.63)
Daily Pivots: (S1) 157.48; (P) 157.89; (R1) 158.58; More…. Intraday bias in EUR/JPY is turned neutral with current recovery. On the upside, firm break of 158.51 will argue that larger up trend is ready to resume through 159.75, to 163.06 projection target. On the downside, sustained trading below 55 D EMA (now at 156.68) will