Daily Pivots: (S1) 134.26; (P) 135.89; (R1) 137.78; More….
Outlook in EUR/JPY is unchanged and intraday bias remains on the upside. Sustained break above 137.49 long term resistance will target next projection level at 144.06. On the downside, though, break of 132.31 minor support will turn bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, up trend from 114.42 (2020 low) is in progress. Sustained break of 137.49 (2018 high) will resume larger pattern from 109.30 (2016 low). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.
