EURJPY Outlook

Daily Pivots: (S1) 185.15; (P) 185.71; (R1) 186.54; More...

EUR/JPY's rally accelerates higher today and intraday bias remains on the upside for 186.86 high. Firm break there will resume larger up trend. Next near term target is 161.8% projection of 180.78 to 184.75 from 182.56 at 188.98. On the downside, below 185.88 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, consolidations from 186.86 might still extend. But as long as 55 W EMA (now at 176.56) holds, the larger up trend from 114.42 (2020 low) remains intact. Firm break of 186.86 will pave the way to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88 next.

Daily Pivots: (S1) 185.15; (P) 185.71; (R1) 186.54; More...

Intraday bias in EUR/JPY remains on the upside for retesting 186.86 high. Firm break there will resume larger up trend. Next near term target is 161.8% projection of 180.78 to 184.75 from 182.56 at 188.98. On the downside, below 184.77 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, consolidations from 186.86 might still extend. But as long as 55 W EMA (now at 176.56) holds, the larger up trend from 114.42 (2020 low) remains intact. Firm break of 186.86 will pave the way to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88 next.

Daily Pivots: (S1) 184.63; (P) 185.10; (R1) 185.38; More...

EUR/JPY's rally continues today and intraday bias stays on the upside. Rise from 180.78 should target a retest on 186.86 high. Firm break there will confirm larger up trend resumption. On the downside, below 184.77 minor support will turn intraday bias neutral first. But rise will stay on the upside as long as 182.56 support holds, in case of retreat.

In the bigger picture, a medium term top could be in place at 186.86 and some more consolidations would be seen. Nevertheless, as long as 55 W EMA (now at 176.21) holds, the larger up trend from 114.42 (2020 low) remains intact. Firm break of 186.86 will pave the way to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88 next.