EURJPY Outlook

Intraday bias in EUR/JPY is back on the downside with current steep decline. Break of 183.95 will argue that rebound from 182.01 has completed, and bring deeper fall back to this support. On the upside, above 185.18 minor resistance will turn intraday bias neutral again first.

In the bigger picture, there is no sign of reversal yet. Uptrend from 114.42 (2020 low) is still expected to resume at a later stage to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88. However, sustained break of 55 W EMA (now at 179.23) will argue that it's already in a medium term down trend to 175.41 resistance turned support and below.

Intraday bias in EUR/JPY is mildly on the upside with breach of 186.18 resistance. Rebound from 182.01 is resuming and would target a retest on 187.93 high. On the downside, below 185.43 minor support will turn bias neutral again. Further break of 183.95 will target 182.01 support and below.

In the bigger picture, there is no sign of reversal yet. Uptrend from 114.42 (2020 low) is still expected to resume at a later stage to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88. However, sustained break of 55 W EMA (now at 179.23) will argue that it's already in a medium term down trend to 175.41 resistance turned support and below.

Intraday bias in EUR/JPY stays neutral first. On the upside, firm break of 186.18 will resume the rebound from 182.01 to retest 187.93 high. On the downside, break of 183.95 will resume the fall from 186.18 to 182.01 support and below.

In the bigger picture, there is no sign of reversal yet. Uptrend from 114.42 (2020 low) is still expected to resume at a later stage to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88. However, sustained break of 55 W EMA (now at 179.23) will argue that it's already in a medium term down trend to 175.41 resistance turned support and below.