Sat, Jun 10, 2023 @ 01:03 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 133.55; (P) 134.15; (R1) 135.15; More….

Intraday bias in EUR/JPY remains neutral for the moment. Risk stays on the downside as long as 138.33 resistance holds, as the correction from 139.99 would extend. On the downside, below 132.63 will target 61.8% retracement of 124.37 to 139.99 at 130.33.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Such rise is seen as the third leg of the 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.

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