Intraday bias in EUR/JPY remains neutral for the moment. Further decline is expected as long as 179.88 minor resistance holds. Below 177.82 will extend the correction from 187.93 towards 175.41 key cluster support. Nevertheless, break of 179.88 minor resistance will suggest short term bottoming, and bring stronger rebound to 55 4H EMA (now at 180.87).
In the bigger picture, price actions from 187.93 are likely at least correcting whole up trend from 154.77 (2025 low). Deeper fall could be seen to 175.41 cluster support (2025 high) and 38.2% retracement of 154.77 to 187.93 at 175.26 before completion. For now, risk will stay on the downside as long as 186.00 resistance holds, in case of rebound.
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