Daily Pivots: (S1) 187.22; (P) 187.47; (R1) 187.83; More…
Intraday bias in EUR/JPY is turned neutral first with current retreat, and some consolidations could be seen below 187.68 temporary top. Downside of retreat should be contained well above 184.75 resistance turned support. Above 187.68 will resume larger up trend to 161.8% projection of 180.78 to 184.75 from 182.56 at 188.98 next.
In the bigger picture, up trend from 114.42 (2020 low) in in progress and should be ready to resume. Next target is 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88 next. For now, medium term outlook will stay bullish as long as 175.41 resistance turned support holds, even in case of deeper pullback.
