This study explored EFL teachers' perceptions of two popular reflection approaches, namely teaching journal and peer observation. The participants consisted of two cohorts of 10 and 11 EFL teachers who attended separate practicum courses in two consecutive years. Each participant was required to submit five teaching journals and five observation forms during the course. At the end, focus group interviews were held to examine participants' perceptions of their reflection experiences. Research findings indicated that the teachers generally favoured peer observations over teaching journals. This preference was attributed to the evaluation criteria in observation forms, alternative teaching models the participants were exposed to, and collegial collaborations developed through post-observation discussions. The teachers also argued that receiving feedback on journal entries, conducting observations prior to keeping journals, and establishing criteria to guide journal writing could further the benefit of the two reflection approaches. The implications for teachers and teacher education are discussed.