EUR/JPY Daily Outlook

Daily Pivots: (S1) 146.24; (P) 146.68; (R1) 147.03; More….

EUR/JPY is staying in consolidation from 148.38 and intraday bias remains neutral for the moment. In case of another fall, downside should be contained by 55 day EMA (now at 143.62) to bring rise resumption. On the upside, break of 148.38 will resume larger up trend to 149.76 long term resistance next.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.76 (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.

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