Daily Pivots: (S1) 129.91; (P) 130.23; (R1) 130.65; More….
Intraday bias in EUR/JPY remains neutral for the moment. Consolidation from 130.65 could extend with another fall. But downside should be contained above 127.48 resistance turned support. On the upside, decisive break of 130.65 high will resume larger up trend from 114.42.
In the bigger picture, rise from 114.42 is seen as a medium term rising leg inside a long term sideway pattern. Further rise is expected as long as 125.07 support holds. Next target is 137.49 (2018 high).