Daily Pivots: (S1) 180.29; (P) 180.82; (R1) 181.87; More…
Intraday bias in EUR/JPY remains on the upside for the moment. Current up trend should target 100% projection of 161.06 to 173.87 from 171.09 at 183.90. Firm break there will target 186.31 projection level next. On the downside, below 180.26 minor support will turn bias neutral and bring consolidations first, before staging another rise.
In the bigger picture, up trend from 114.42 (2020 low) is in progress and should target 61.8% projection of 124.37 to 175.41 from 154.77 at 186.31. Outlook will continue to stay bullish as long as 55 W EMA (now at 169.00) holds, even in case of deep pullback.
