Wed, Dec 07, 2022 @ 01:15 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 141.03; (P) 141.66; (R1) 142.53; More….

Intraday bias in EUR/JPY stays neutral first, with focus on 142.28 resistance. Firm break there will indicate that the pull back from 145.62 has completed, and bring stronger rally to retest this high. On the downside, though, break of 140.38 minor support will turn bias back to the downside, to resume the fall from 145.62 through 137.32 support.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, next target is 149.76 (2015 high). However, sustained break of 133.38 will be a sign of medium term bearish reversal and bring deeper fall to 124.37 support first.

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