Thu, Dec 01, 2022 @ 21:16 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 143.59; (P) 144.41; (R1) 145.35; More….

Breach of 145.02 minor resistance argues that EUR/JPY’s correction from 148.38 might be completed at 142.54. Intraday bias is back on the upside for retesting 148.38 high first. However, on the downside, sustained break of 38.2% retracement of 133.38 to 148.38 at 142.65 will bring deeper fall to 61.8% retracement at 139.11 and possibly below.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through1 48.38 to 149.76 (2014 high). However, break of 137.32 support argue that a medium term correction has already started to correct the whole up trend from 144.42.

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