Daily Pivots: (S1) 145.14; (P) 145.93; (R1) 147.49; More….
EUR/JPY’s break of 145.62 resistance confirms up trend resumption. Intraday bias stays on the upside for 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 144.58 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.75 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.
