Daily Pivots: (S1) 138.19; (P) 138.94; (R1) 139.48; More….
Intraday bias in EUR/JPY is turned neutral with current retreat, as a temporary top is formed at 139.99. Some consolidations could be seen but downside of retreat should be contained above 134.33 support to bring rally resumption. On the upside, break of 139.99 will resume larger up trend to 144.06 projection level next.
In the bigger picture, up trend from 114.42 (2020 low) is in progress. Sustained break of 137.49 (2018 high) will resume larger pattern from 109.30 (2016 low). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.
