The pair EUR/JPY has failed to get over the resistance at 104 last week after a validation of the breakout of the bearish slant (brown lines). The price made a pullback on this slant and is currently testing again 104.

We continue to advise long positions as far as 103 is support. The breakout of 104 will give a new buy signal. A new bullish wave will be then expect towards 104.50 and 105 in extension.

In case of return below 103, we will be neutral between this level and 102.50.

The bullish rallye continues with strenght. The pair EUR/JPY has validated yesterday the breakouts of 105 and 105.50, giving both a new buy signal. The price is currently validating the breakout of 106 and is now back above its medium term bullish slant (blue line).

We continue to advise long positions as far as 105 is support. The breakout of 107 will give a new buy signal and should open the way towards 107.50.

In case of return below 105, we will be neutral between this level and 104.

EUR/JPY 1h Chart

The pair EUR/JPY has rebouded yesterday on its medium term bullish slant (blue line) and is currently testing a reurn above 106.50.

We continue to advise long positions as far as 105.50 is support. A stay above 106 will comfort our bullish feeling. The breakout of 107 will give a new buy signal and should open the way towards 108.

In case of return above 105.50, we will be neutral between this level and 105.

EUR/JPY 1h Chart

The pair EUR/JPY has validated yesterday the breakout of 107.50, offering a new buy signal. Then, the price found resistance below 108 and is currently making pullbacks on the support at 107.50. The currency pair is still moving above its medium term bullish slant (blue line).

We continue to advise long positions as far as 107 is support. A stay above 107.50 will comfort our bullish feeling. The breakout of 108.50 and 109 will both give us a new buy signal.

In case of return above 107, we will wait the breakout of 106 to advise short positions.

EUR/JPY 1h Chart

The bullish slant on the pair EUR/JPY has again acted well as support (blue line). After a low on 106, the price has started yesterday a bullish rally. The breakout of 107 has restarted the bullish trend. This morning, the price just validated the breakout of 107.50 (new buy signal) and is now going to test 108.

We continue to advise long positions as far as 107 is support. The breakout of 108 will give a new buy signal and should open the way towards 108.50 and 109 in extension.

In case of return below 107, we will be neutral between this level and 106.50. This last level matches with the bullish slant. Its breakout will give a sell signal.

EUR/JPY 1h Chart

The currency pair EUR/JPY opened the week on a bullish gap over 110 and this has validated the breakout of this level. The price has stumbled on the next resistance located at 111 points and is filling the gap this morning. The price has made ​​a pullback on 110 points and is currently testing this level as support.

The price is still above its  medium / long term  bullish slant (blue line in the graphs).

I advise traders to trade only long positions as far as the price will be located above 109. The maintaining of the price above 109 will strengthen this bullish sentiment.
The upward break of 111 will offer a new buy signal for an extension of the bull rally towards 112 points or higher if these levels are broken up.

In case of return of the price under 109, then I would advise traders to wait a break-down of 108 points before trading only short position. Be careful to the bullish slant (blue line) that could give support to the price.

EUR/JPY 1h Chart

The pair EUR/ JPY has resumed its bullish rally and validated a breakout of 112 points, offering a new buy signal. The price is still very far from its bullish medium / long term  slant (blue line on chart)

We advise traders to trade only long positions as far as the price will be located above 111. The maintaining of the price above 112 will strengthen this bullish sentiment.
The upward break of 113 will offer a new buy signal for an extension of the bull rally towards 113.50 points or higher if these levels are broken up.

In case of return of the price under 111, then I would advise traders to wait a break-down of 110 points before trading only short position.

EUR/JPY 1h Chart

The pair EUR/JPY has resumed its bullish momentum tonight validating the upward breaks of 114.50 and then 115. The price has stumbled early this morning on the next resistance located at 116. The pair is still very far from medium / long term bullish slant (blue line on the chart).

We advise traders to trade only long positions as far as the price will be located above 113. A stay above 114 will comfort our bullish sentiment. The upward break of 116 will offer a new buy signal for an extension of the bullish rally towards 117 points or higher if these levels are broken up.

In case of return of the price below 114, then I would advise traders to wait a break-down of 113 points before trading only short position.

EUR/JPY 1h Chart

After the validation of its flag descending output (segment brown on the1H chart), the pair EUR/JPY has made a powerful bullish rally, validating the upward breaks of 115/116/117 (new buy signals). In extension, the price reached at its high the minor resistance located at 108.50 points and is now stabilizing on 108 points.

I keep advising traders to trade only long positions as far as the price will be located above 116 points. A stay above 117 will reinforce this bullish sentiment. The upward breaks of 118 and 119 will offer new buy signals for an extension of the bullish rally towards 120 points or above this level is also broken.

In case of return of the price below 116 points, then I will advise traders to wait a breakout of 115 points before trading short positions.

NB: traders whose trading strategy is more aggressive could trade the pair according to the key level at 114:
- Only long positions above 114 points.
- Only short positions below 114 points.

EUR/JPY 1h Chart

The pair EUR/JPY found support yesterday on 117 points in extension as well on its medium term bullish slant (purple line - Lines modified on the chart).
The price tries to return this morning above 119 points after the validation that night of the breakout of its short-term bearish slant (brown segment).

I advise traders to trade the pair outside the range of quotes 117/119:

- Only long positions above 119 points. A break of 120 points will provide a new buy signal.

- Only short positions below 117 points. A break of 116 points will offer a new sell signal.

NB: traders whose trading strategy is more aggressive could trade the pair according to the key level at 118:
- Only long positions above 118 points.
- Only short positions below 118 points.

EUR/JPY 1h Chart

The pair EUR/JPY continued its bullish movement and has validated yesterday a breakout of 123 points, offering a new buy signal.
The price is back this morning on this level od support and is trying to bounce back.
The pair is still far away from its medium term bullish slants (purple lines on charts - best drawn visible on the previous analysis)

I advise traders to trade only long positions as far as the price will be located above the 122 points.
A stay above 123 will reinforce this bullish sentiment.
The upward breaks of 124 would offer a new buy signal for an extension of the bullish movements towards 125 points or above if this level is broken.

In case of return of the price below 122 points, I would  then advise traders to wait a breajout of 120 points before trading short positions.

EUR/JPY 1h Chart

The pair EUR/JPY has made a pullback last Friday on the support at 125 points before taking up its uptrend.
The price has validated the breakout of 126 points, offering us a new buy signal.
This rally was stopped on the next resistance located at 127 points.
The pair is still far away from its medium term bullish slants (purple lines on charts - best drawn visible on the previous analysis)

I advise traders to trade only long positions as far as the price will be located above the 125 points.
A stay above 126 will reinforce this bullish sentiment.
The upward breaks of 127 would offer a new buy signal for an extension of the bullish movements towards 128 points or above if this level is broken.

In case of return of the price below 125 points, I would  then advise traders to wait a breajout of 124 points before trading short positions.

EUR/JPY 1h Chart