Daily Pivots: (S1) 129.34; (P) 130.29; (R1) 131.09; More….
Intraday bias in EUR/JPY remains on the downside at this point. Current fall from 133.12 would target 127.85 support first. Prior rise fro 124.89 could have completed at 133.12 already. Break of 127.85 will pave the way to retest 124.89. On the upside, though, above 131.23 minor resistance will turn bias back to the upside for 133.12 instead.
In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.
