Daily Pivots: (S1) 143.80; (P) 144.33; (R1) 145.17; More….
Intraday bias in EUR/JPY remains on the upside at this point. Decisive break of 145.62 resistance will will confirm up trend resumption. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, below 143.46 minor support will turn intraday bias neutral first.
EUR/JPY Mid-Day Outlook
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.
