Daily Pivots: (S1) 149.66; (P) 150.14; (R1) 150.55; More….
Intraday bias in EUR/JPY remains neutral at this point. On the downside, break of 148.83 support will extend the corrective pattern from 151.60 with another falling leg. Intraday bias will be back on the downside for 146.12 support. On the upside, above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level.
In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 139.05 support holds, even in case of deep pull back.
